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While the Federal Residential Renewable Energy Program ended
in December of 2010, it does not mean that there is no longer any
financial assistance available to Indiana homeowners. In fact, in some
cases the tax credit has gotten even better, depending on the type of
system purchased.
- Federal tax credits on qualifying, high-efficiency HVAC & Water Heating
equipment have been modified and extended through December 31, 2011.
- Additionally, the new "no cap" tax credit
can save you
thousands of dollars on the purchase of a state-of-the-art geo
thermal heating and cooling equipment that can reduce your
utility bill by as much as 50 - 80%.
Details of the Federal Energy Efficiency Tax Credit Program for 2011:
- 30% tax credit for Geothermal Heating & Air Conditioning
Equipment, with no upper limit,
including water-to-water GHPs, which provide space conditioning and/or
domestic water heating using indoor refrigerant-to-water heat exchangers.
- Existing homes & new construction qualify
- Both principal residences and second homes qualify
- Rental properties do not qualify
- 10% of cost, up to $500, for conventional ventilation systems
(or a specific amount from $50 – $300, see chart below for details) including:
- Advanced Main Air Circulating Fan
- Air Source Heat Pumps
- Central Air Conditioning
- Gas, Propane, or Oil Hot Water Boiler
- Natural Gas, Propane or Oil Furnace
- The $500 cap is reduced by the total amount of residential
energy property credits a homeowner has claimed for purchases between 2006
and 2010.
If you have already claimed credits of $500 or more from
improvements made prior to 2011, you will be unable to claim new credits for
improvements made during 2011.
- All furnaces and boilers, whether natural gas, propane or oil,
must have an Annual Fuel Utilization Efficiency (AFUE) of 95 or above
to be eligible for the credit.
- This program ends December 31, 2011. To qualify, the new equipment
must be installed in an existing home & your principal residence.
New construction and rentals do not qualify.
- Additional Incentives Currently Available:
- Utility Company Incentives: up to $400 for the purchase of
qualified energy-efficient heating or air conditioning equipment.
- Manufacturers Rebates: Thiele has partnered with
Rheem to offer rebates of up to
$1,000 toward the purchase of new, high-efficiency heating and cooling
systems. Rebates are also available from other manufacturers, including
Bryant, Trane and Carrier.
Rebate Levels and Eligibility Requirements:
|
Maximum Available Credit |
Product Type |
Efficiency Requirements |
| $50 |
Any advanced main air circulating fan |
Electricity use of no more than 2% of the total energy use of the
furnace |
| $150 |
Natural Gas, Propane, Oil Furnace or Boiler |
95% AFUE |
| $300 |
Split System Air Conditioners |
16 SEER
(Seasonal Energy Efficiency Ratio)
/ 13 EER
(Energy Efficiency Ratio) |
| $300 |
Split-System Heat Pumps |
15 SEER / 12.5 EER / 8.5 HSPF |
| $300 |
Package Air Conditioners |
14 SEER / 12 EER |
| $300 |
Package Heat Pump |
14 SEER / 12 EER / 8 HSPF |
| $300 |
Package Gas / Electric |
14 SEER / 12 EER |
| $300 |
Gas Water Heater |
EF >= 0.82 or TE >= 0.90 |
| $300 |
Heat Pump Water Heater |
EF >= 2.0 |
For more information about the new Federal Energy Efficiency Tax Credits for
2011, visit the
Energy Star web site.
Before you make costly repairs to your existing system, you
should seriously consider upgrading to a new Geothermal HVAC system.
Between the available Federal Tax Credits, Manufacturer Rebates,
utility company incentives, and the continued reduction of your utility
costs by as much as 80%, you could save thousands of dollars over
the lifetime of the new equipment.
To schedule a
free in-home estimate,
contact Thiele Heating & Air Conditioning. Call us today, (317) 639-1111. |
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