Federal Tax Credits for Consumer Energy Efficiency

If you purchase an energy-efficient central air conditioning system, heat pump or furnace – you may be eligible for a $1500 federal tax credit. 

What is included in the Tax Credit?

Tax Credit: 30% of cost up to $1,500

Expires: December 31, 2010

Details: Must be an existing home & your principal residence. New construction and rentals do not qualify.

System Energy Efficiency Requirements

Split Systems (Central AC): SEER ≥ 16       EER ≥ 13

 

How do I apply for the tax credit? What tax form do I need for the energy efficiency tax credits?

 From EnergyStar.gov

For products “placed in service“ in 2009, you need to file the 2009 IRS Form 5695 and submit it with your 2009 taxes (by April 15, 2010).On the 2009 1040 form, the residential energy tax credit (from Form 5695) is claimed on line 52.

Tax Form:  For products “placed in service” in 2010, you would take the tax credit on your 2010 income taxes.

What you need to submit and save: Save your receipts and the Manufacturer’s Certification Statement for your records. Submit Form 5695 with your taxes.

 

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