April 2013

Heating and Cooling Tax Credits Still Available For Cincinnati Homeowners

There are still federal tax credits available for homeowners who installed qualifying furnaces, air conditioners, heat pumps, or water heaters in their Cincinnati homes in 2012. These tax credits will also apply for anything installed through December 31, 2013. Homeowners in Cincinnati can claim a tax credit of up to $500, and the equipment must meet certain efficiency guidelines.

You can receive up a $300 for installing a qualifying air conditioner or heat pump. For a split system central air conditioner, the unit must be at least 16 SEER with a 12 EER. For homes with a split system heat pump, it must be 15 SEER, 12.5 EER, and 8.5 HSPF. There are also tax credits available for packaged units. A packaged air conditioner must be at least 14 SEER with a 12 EER, and a packaged electric heat pump must be 14 SEER, 12 EER, and 8 HSPF.

Your furnace is eligible for a $150 tax credit if the efficient is at least 95% or above. This applies to natural gas, propane, or oil. Boilers also qualify as long as it is 95% or more efficient. You can also receive an additional $50 tax credit if you install a furnace with an Advanced Main Air Circulating fan, which means the annual electricity use of the unit must be no more than 2 percent of the total energy use of the furnace.

Water heaters can also qualify for a tax credit of $300. If your water heater is natural gas, propane, or oil, it must have a thermal efficiency of 90% or greater or .82 energy factor. An electric heat pump water heater must have an energy factor of at least 2.0.

Confused? One of the Comfort Specialists at Herrmann Services will be happy to sort out the proper equipment that qualifies, and we’ll also talk to you about available manufacturer and utility rebates. Call us today, and we’ll make sure you qualify for all the items available to you!