Have you been putting off necessary HVAC upgrades for your South Carolina home? Have you found yourself in an emergency replacement situation? No matter your circumstances, if you act now, you can still take advantage of 2011 tax credits for energy efficiency.
These credits expire Dec. 31, 2011, so there's little time to spare. However, tax credits are available on a wide range of products and appliances, provided they meet the minimum requirements for eligibility. Here is some basic information regarding product eligibility and available tax credits:
- Central air conditioning units may be eligible for a $300 credit provided they carry a minimum seasonal energy efficiency ratio (SEER) of 14, and a minimum energy efficiency ratio (EER) of 12. Requirements vary depending on your choice of split or packaged systems, so consult your technician for details.
- Air-source heat pumps may be eligible for a $300 credit provided they carry a minimum 14 SEER, 12 EER, and a heating season performance factor (HSPF) of 8. Requirements for split and package systems vary, so consult your technician for more information.
- Furnaces fired by natural gas, propane or oil may be eligible for a credit of $150 if they carry minimum annual fuel utilization efficiency (AFUE) of 95 percent.
- Advanced main air circulating fans that use less than 2 percent of qualifying furnace energy consumption may be eligible for a credit of $50. If your furnace doesn’t qualify, but the fan does, you may still be eligible for a credit equaling 30 percent of the cost of the fan.
- Water heaters powered by gas, oil or propane that carry a minimum AFUE of 95 percent may be eligible for a $150 credit.
- Insulation upgrades are eligible for a credit of 10 percent of the total costs minus installation.
In addition, if you’re considering the switch to a solar or geothermal system, you could be eligible for a credit of 30 percent of the total costs including installation, with no limit on the amount of the credit you receive. Consult your technician for the specifics. For more information on the soon-to-expire 2011 tax credits, contact Comfort Services in Columbia today.
