Tax Credits for Renewable Energy Improvements
There are currently tax credits available from the federal government, but only specific renewable energy upgrades qualify. Available through 2021, these credits provide a dollar-for-dollar offset of taxes owed, unlike deductions that simply reduces taxable income. The credit amount is decreasing annually, but for 2019, it’s good for 30 percent of the improvement cost, including installation. The credits are only available on renewable energy improvements/equipment, specifically Geo-thermal heat pumps, solar hot water heaters, small wind turbines, and solar panels/residential fuel cells used to create electricity for the home.
Other Rebates and Incentives
Depending on the type of improvement or equipment upgrade you’re considering investing in, you may qualify for cost-saving rebates available through the City of Corpus Christi and well-known HVAC manufacturers:
City of Corpus Christi Natural Gas Rebates
The city’s Gas Department is presently offering rebates through the Natural Advantage Home Rebate Program to encourage the use of natural gas. The rebates are available for specific natural gas appliances installed in new homes, as well as conversions in existing homes. There’s a $200 rebate for installing a new gas furnace when converting from another fuel source. There are also rebates available for water heaters, clothes dryers, stoves/cooktops, fireplaces and pool heaters.
Lennox
Lennox is currently offering up to a $1,250 rebate when you have a complete home comfort system installed that includes a heat pump or air conditioner, gas furnace, and thermostat. They also offer additional rebates (totaling up to $450) when you opt for system enhancements like a smart thermostat, air purification and zoning systems.
Trane
Trane is now offering a $200 rebate on a number of their packaged HVAC units and gas furnace models.
To learn more about efficiency-wise tax savings and rebates available here in the Coastal Bend, contact us at CCAC.
Helpful Information For You And Your Home
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