ENERGY TAX CREDITS
Congress recently modified and extended its energy efficiency tax credits to the end of 2013. Receive up to $6500 maximum in tax credits by purchasing a qualified system this year. Your ideal system just got a whole lot easier!
Did You Know that Over Half of Your Home’s Energy Consumption is Used for Heating and Air Conditioning?
If your house has central air conditioning, the air conditioner will probably be the biggest user by far. Although used only a few months of the year, the annual cost can be much greater than the annual cost of your refrigerator, which is typically the next largest user. In hot climates, the annual air conditioner cost can exceed a thousand dollars. You can get a very rough idea of what your air conditioner is costing you by subtracting the electric portion of your bill in a spring month when you aren’t using your air conditioner from the electric portion of the bill in the summer when you do use it. This gives you the monthly cost. Multiply this by the number of months you use your air conditioner to arrive at your approximate annual cost.
Tax Credits have been extended for 2013 – for high efficiency products such as air conditioners, furnaces, and boilers. Products that qualify for the tax credit include air conditioners and water heaters with a 90% efficiency rating or higher, and furnaces with a 95% efficiency rating.
Take advantage of the federal energy tax credit for 2013 and purchase a new high efficiency furnace, air conditioner, boiler, or water heater. New high efficiency heating and cooling products will help lower your energy bills and increase the comfort in your home. Tax credits are available but you must have your heating or cooling product installed by December 31, 2013. Some products have a specified amount for their tax credit while for others the tax credit is a percentage of the cost. Combine the tax credit with the savings from your lower home energy bills and you’ll begin to offset the difference between high efficiency models and standard models.