As part of the recently passed tax bill, the 25C tax extention for residential high efficiency property has been extened for one year. This legislation included several significant changes in the 2011 tax credits compared to the 2009-2010 tax credits. The maximum tax credit that can be claimed for 2011 has been reduced from $1500 to $500.00. 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 $150.00 maximum tax credit for a 95% gas furnace and $300.00 for an air conditioner or heat pump. These component maximum amounts are additive to a $500.00 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. Utility company rebates are still available, for more details call BREEZIN HVAC, INC.
