Have you purchased heating and cooling equipment in the last few years? If so, you could get up to $500 back!
What is the program?
There’s a national program that was created by ENERGY STAR and the U.S. government to reward people for making energy-smart decisions for their home! Basically, if you’ve purchased energy-efficient heating and cooling equipment in the last few years, then you could be eligible to receive up to $500 back in the form of a tax credit!
How do I qualify?
We want to give you some more details on what equipment qualifies, and what steps you need to take here in order to receive your tax credit.
First of all, you should know that equipment is only eligible if it was purchased between December 31, 2017, and December 31, 2021. In past years, the tax credit program has been extended into the future, but there is no guarantee that it will continue in the years to come. This means that the only way to guarantee getting a $500 tax credit for energy-efficient heating and cooling equipment is to make that purchase before the end of this year, if you haven’t already.
Beyond the time constraints, another condition of this program is that the heating and cooling purchase must be for your primary residence. So, new equipment purchased for a vacation home or rental home unfortunately doesn’t qualify!
If you want the $500 tax credit, you’ll need to be sure your equipment is efficient enough to qualify! Here are a few examples of the requirements:
A/C system: SEER rating ≥ 14
$300 tax credit
Furnace: AFUE rating ≥ 95
$150 tax credit
What do I do?
For more information on other types of qualifying equipment, such as water heaters and heat pumps – and also about other ENERGY STAR tax credit programs for energy-efficient windows, doors, and roofs – check out the ENERGY STAR website.
So, if you’ve made an energy-efficient heating and cooling purchase this year, or intend to make one now, then you’ll certainly want to claim it on your tax return! If you’ve made a purchase in the past few years, you can file an amended tax return.
Here at Weather Master, we aren’t tax experts and we encourage you to ask a tax professional any questions you might have! However, we are the heating and cooling experts. If you need service, schedule an appointment online or call now: (919) 853-7910