The federal government wants to help you buy cool new gadgets that save energy. Why not let them do it?
The following tax credits are available for existing primary residences in 2011:
- Credit of $300 for a biomass stove to heat a home or water heater. Biomass fuel can be crops, wood, residues, plants and fibers. The stove must have a thermal efficiency of 75 percent, and the credit includes installation costs.
- Central air conditioning credit of $300 may apply to split systems or package systems. Not all Energy Star-certified products qualify, and the credit includes installation costs.
- A $300 credit may be applied to electric heat pumps, either split systems or package systems. The same conditions and restrictions apply.
- An advanced main air circulating fan may qualify for a $50 credit if it draws no more than 2 percent of total furnace energy use. If the fan qualifies but the furnace does not, you could get a 30 percent credit on the fan.
- For metal or asphalt roofs, a 10 percent credit is available for materials only, and materials must be qualified metal or asphalt shingles. Materials must be comprised of pigmented coatings or cooling granules that reduce heat gain.
- A $300 credit for gas, oil or propane water heaters with an energy factor of 0.82 or greater, or a thermal efficiency of at least 90 percent. Generally speaking, an Energy Star tankless water heater is most likely to qualify, and most other types are specifically excluded. The credit also applies to installation.
- A $300 credit for an electric heat pump water heater with an energy factor greater than 2.0. Credit includes installation.
- Exterior windows, doors and skylights may be eligible for a 10 percent credit up to $500. They must be Energy Star, and the credit does not cover installation.
To learn more about ways you can save money both on your power bill and your tax bill, contact Around the Clock Air Conditioning and Heating. We proudly serve a large part of Southern California with offices in North Hollywood and Los Angeles.
Our goal is to help educate our customers about energy and home comfort issues (specific to HVAC systems). For more information, click here to download our free Home Comfort Resource guide.