Tax credits are available to homeowners who purchase high-efficiency heating and cooling equipment this year. The Energy Policy Act contains tax incentives that allow consumers to reduce their tax bills on a dollar-for-dollar basis up to the amount allowed under the law. The home energy efficiency tax credit is in effect for consumers who purchased qualifying equipment and had it installed in 2006 or 2007.

The Energy Policy Act offers homeowners as much as $300 in tax credits with the purchase of qualified high-efficiency heating, cooling and water-heating equipment. The legislation defines the type of equipment and the amount of the credit in this way:

• High-efficiency gas, oil and propane furnaces and boilers: $150

• High-efficiency central air- conditioning units, including air-source and ground-source heat pumps: $300

• High-efficiency fans for heating and cooling systems: $50

• High-efficiency water heaters, including heat pump water heaters: $300

Manufacturers and retailers should be able to tell homeowners if a product qualifies for a tax credit. Qualifying efficiencies identified in the bill include:

• Furnaces and boilers: Annual Fuel Utilization Efficiency (AFUE) of 95 or higher

• Central air-conditioning units: Seasonal Energy Efficiency Ratio (SEER) of 15 and an Energy Efficiency Ratio (EER) of 12.5

• Air-source heat pumps: Heating Seasonal Performance Factor (HSPF) of 9 or greater, SEER of 15 or higher and EER of 13 or higher

In addition to providing tax savings, these high-efficiency products will make it easier for homeowners to reduce energy consumption and lower their energy bills. To qualify for the tax credits, homeowners need to verify the efficiency of the equipment and the date it was placed into service.

By: Stacey Moore

Article Source: http://www.energyefficienthomearticles.com

Article Directory: www.articledashboard.com To learn more about which products meet the specifications set forth in the Energy Policy Act, such as the York® Affinity™ Series of air conditioners, heat pumps and furnaces from Johnson Controls, talk to a heating, ventilation and air-conditioning contractor. To learn more about the energy-efficient York Affinity Series, visit www.yorkupg.com. You may save big money on your taxes when you save energy with efficient heating and cooling appli

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