If your heating & AC system is working inefficiently, new equipment is a great choice for trimming operating costs. However, new equipment comes at a high price in the eyes of many homeowners. More efficient equipment can seem costly, and it’s easy to put off a decision to upgrade as a result. With President Obama’s reinstatement of federal energy tax credits for 2013, you may want to give your home improvement project a fresh look.
Tax Credits Allowances
Your eligible equipment can earn a 10 percent credit on your 2013 tax return. If you are planning to install a heating & AC system, then you need to realize that there are limits on the amount of money credited for different types of equipment. For example, an air conditioner is limited to $300 as is a heat pump. A furnace or boiler will be limited to a credit of $150. Additionally, you are eligible for a lifetime maximum credit of $500 from the program. If you’ve used some of that benefit in earlier years of the program, your limits will be reduced accordingly.
Knowing What Systems Qualify
If the 25C federal tax credits are integral in your plan for being able to afford an HVAC upgrade, then you need to be sure that you select eligible equipment. Energy ratings determine the qualifications of each system or component. Working with a reputable HVAC company like Gentry Service Group is important so that you can be sure that you have a system that meets the demands of your home and measures up to the 25C credit qualifications.
Timelines for 25C Tax Credits
The 2013 tax year is already moving along. Your equipment must be placed in service by December 31 to be eligible. Spring and fall tend to be less busy in the HVAC industry, perfect for scheduling an installation of a new heating & AC system. If you wait until the last minute to decide, you run the risk of not being able to have your equipment installed in time.
Financing Options and Other Incentives
As you consider the costs of new heating and cooling equipment, it’s helpful to explore our frequent specials and financing offers. At times, we offer significant discounts on the installation of new equipment. These can provide you with greater motivation to move forward with your renovation plans. We also work with our customers to spread out costs through convenient company financing.
Installation of energy-efficient equipment can make a big difference in your budget because of lower energy bills. It’s a great time to get all of your facts together so that you can update your equipment affordably in Hendersonville NC.
