If you have been considering buying a new A/C and heating system, you should start taking action, because the Consumer Energy Efficiency program is set to expire December 31 of this year. This is less than 120 days away.
To learn more you can visit the federal government Energy Star website. I find this website to have a lot of useful information about the tax credit requirements. Included in that info is the following statement (with the first sentence written in red on their website for emphasis)
Please note, not all ENERGY STAR qualified products qualify for a tax credit. ENERGY STAR distinguishes energy efficient products which, although they may cost more to purchase than standard models, will pay you back in lower energy bills within a reasonable amount of time, without a tax credit.
As we mention in our video that describes how to compare the cost of AC and heating systems installed be sure to get the details in writing from the local HVAC contractor who installs your equipment, verifying that the installed equipment meets the federal guidelines for the tax credit. The reason: it will be later, when you send in your tax returns, that you are able to take the tax credit, and you would not want to find out then that the equipment or installation date did not qualify.
Since these programs are, in our opinion, triple wins we hope that another program or an extension will be available. In our next blog, we will write about state tax credits and rebates. If you have experience related to this topic, please post so others can get the benefit of your knowledge.