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Don't Let the Energy Tax Credits Pass You By: Upgrade Your A/C This Fall

Monday, September 16, 2013

For the past few years, homeowners like you have benefitted from energy tax credits that help cover the investment associated with upgrading to high-efficiency HVAC equipment. These incentives are coming to an end on December 31, 2013. That means you shouldn’t wait until spring to replace your outdated air conditioner; instead, upgrade your A/C this fall.

Qualifying for $300 in Energy Tax Credits

The best way to ensure that your new A/C qualifies for the tax credit is to pay attention to its energy efficiency ratings. All central air conditioner brands and sizes qualify for the $300 tax credit, as long as they meet minimum efficiency standards.

  • Split systems: Split-system air conditioners have an indoor evaporator coil, an indoor air handler and an outdoor condensing unit. If your home already has a furnace with an air handler, a split-system A/C is the most economical choice. To qualify for the energy tax credits, look for a Seasonal Energy Efficiency Ratio (SEER) rating of 16 or higher and an Energy Efficiency Ratio (EER) rating of 13 or higher.
  • Packaged systems: This option locates all the system’s parts in a single cabinet, which is usually installed on the roof or a concrete slab beside your home’s foundation. If you don’t already have separate heating equipment, this is a viable option, since it often comes with electric heating coils or a natural gas furnace. To qualify for the energy tax credits, seek a system rated at 14 SEER and 12 EER or higher.

Applying for the Energy Tax Credits

Once you’re sure you have selected a qualifying unit, you need to fill out the 2013 version of IRS Form 5695. The information from this form transfers to line 52 of Form 1040. Submit your 2013 tax return paperwork before April 15, 2014 to receive the tax credit.

If you’re ready to upgrade, take a look at our wide selection of Carrier and Bryant air conditioners, many of which qualify for the energy tax credits that expire at the end of this year. Then, to discuss installation, please contact a Texas Air Comfort Contractor near you.

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