When Congress approved the legislative package to avoid the “fiscal cliff,” it was good news for homeowners in the greater Peachtree City area. The package reinstated the 2011 25C energy tax credits from January 1, 2012, to December 31, 2013. This is a great opportunity to use those tax credits to upgrade to high-efficiency HVAC equipment.
The reinstatement of 25C covers high-efficiency HVAC equipment including furnaces and air conditioners. As a bonus, any installations of high-efficiency HVAC equipment made during 2012 are covered.
As in 2011, the 2012 and 2013 federal energy tax credits allow homeowners credits of up to a total of $500 for energy-saving improvements made to their homes in 2012 or 2013.
Just like in 2011, these credits may apply to materials, as well as some labor and installation. The credits apply only to your primary residence, not vacation homes or rental properties. To receive the credit, you must file IRS Form 5695 with your 2012 or 2013 federal income tax form.
With these energy tax credits reinstated, now’s a good time to upgrade your HVAC equipment. Some of the equipment covered includes:
- Central air conditioning systems
- Natural gas, oil and propane furnaces
- Advanced air main circulating fans
- Heat pumps
- Natural gas, oil and propane water heaters
- Electric heat pump water heater
- Natural gas, oil and propane hot water boiler
Keep in mind, the 2012 and 2013 tax credits will not cover all HVAC products.
To learn more about how energy tax credits can help you upgrade your HVAC equipment for your Georgia home, contact us today at Powers Heating & Air. We proudly serve homeowners in the Fayette,Coweta, and surrounding Counties.
Our goal is to help educate our customers in Peachtree City, Georgia and surrounding areas about energy and home comfort issues (specific to HVAC systems).
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