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Tax Credits IRS
2011 Tax Credit
Extension
 As
part of the recently passed tax bill, the
25C tax extension for residential high
efficiency property has been extended for
one year. The maximum tax credit that can
be claimed has been reduced from $1500 to
$500 for 2011. In addition, the 2011 tax
credits have placed maximum amounts that can
be claimed for the various components of the
HVAC system, such as a $150 maximum tax
credit for a 95%
gas furnace and $300 for an air
conditioner or heat pump. These component
maximum amounts are additive to the $500
maximum lifetime tax credit.
Most of the
HVAC qualifying efficiency levels have
remained the same. The only exceptions are
boilers and oil
furnaces, where the qualifying
efficiency has been increased from 90 AFUE
to 95 AFUE. The following chart summarizes
the difference between the 2009-10 tax
credits and the newly passed 2011 tax
credits. Changes in the tax credits for
2011 are highlighted in red
|
Product |
2009-2010 Tax Credit |
2011 Tax Credit |
|
General Provision |
30%
of installed cost up to $1500 |
10% of installed cost, up to $500 |
|
Central AC |
Split
System:16 SEER & 13 EER
Packaged Unit: 14 SEER & 12 EER
30% of installed cost, $1500 max |
Split
System:16 SEER & 13 EER
Packaged Unit: 14 SEER & 12 EER
10% of installed cost, $300 max |
|
Furnaces |
Gas
Furnace: 95 AFUE
Oil Furnace: 90 AFUE
Boilers: 90 AFUE
30% of installed cost, $1500 max |
Gas Furnace: 95
AFUE
Oil Furnace:
95 AFUE
Boilers:
95 AFUE
10% of installed cost, $150 max |
|
Efficient Indoor Fan |
30%
of cost of fan, $1500 max |
$50 |
|
Heat
Pump |
Split
System: 15 SEER, 12.5 EER. 8.5 HSPF
Packaged Unit: 14 SEER, 12 EER, 8 HSPF
30% of installed cost, $1500 max |
Split System: 15
SEER, 12.5 EER. 8.5 HSPF
Packaged Unit: 14 SEER, 12 EER, 8 HSPF
10% of
installed cost, $300 max |
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* Consumers should
consult a
tax professional to ensure
they qualify for the tax credit.
Effective 2011 calendar year. |
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