They may not be as generous as last year, but there are still tax credits to be had if you upgrade the heating and cooling equipment in your home. The U.S. government has approved new tax credits, but at lower levels for 2011, when you install a new air conditioning unit or add insulation to your attic. To qualify for the tax credits you must purchase the equipment by December 31, 2011, and the equipment must be installed in an existing home that is your principal residence. The credit is not valid on new construction.
The tax credits require that you install energy-efficient equipment when you put in a new A/C unit, heat pump or furnace. If you need a new air conditioner for example, the model must carry an Energy Star SEER rating of at least 16 for split units or 14 for package systems. The maximum amount of the tax credit for new central air conditioning is $300.
Upgrading to a more efficient air conditioner certainly makes sense for people living in Corpus Christi, Texas where it seems like the air conditioner works almost year-round. In addition to the tax savings, you may be able to cut your monthly electric bill significantly. If your current A/C system is more than five years old it could use up to twice as much electricity to cool your house as the newer more energy-efficient models. Talk to us at Mathews CCAC first, though, for help in finding the efficiency level that will still be able to handle our humidity.
Adding extra insulation will also help cut your electric bill by keeping the cool air in and the warm air out during the long Corpus Christi summers. The tax credit available for insulation is 10 percent of the total cost up to $500, you cannot include the cost of installation of the insulation, however.
The skilled technicians at Mathews CCAC can help you find the right equipment to qualify for the tax credits and get maximum value for your dollar.
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.
Mathews CCAC Air Conditioning and Heating services Corpus Christi, TX. To get started, check out our website.