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2016 Federal Tax Credits for HVAC Upgrades

There’s good news for your bank account if you’re considering upgrading your HVAC system in 2016. Information on the website reports that consumers can save $150 in 2016 federal tax credits when installing a furnace that is Energy Star certified into an existing principal residence (it does not include new construction or rental properties).  The credit is for models with an AFUE that is greater than or equal to 95. For customers of Star Heating and Cooling (a factory authorized Carrier dealer), the eligible model numbers include the Carrier 59TP5 or 6 series; 59TN6 series; 59MN7 series; 59SP5 series; and 59SPA series.

Other 2016 federal tax credits include savings for replacing a central air conditioning system with one that has been recognized as an Energy Star Most Efficient model for 2016.  You can receive a tax credit of $300 if you install a split system has a SEER that is equal or greater than 16, and an EER that is equal to or more than 13. Most residences have a split system, which includes an outdoor unit for the compressor and condenser, and indoor cabinet for the coil, and the air handler.  If you own a business, you may have a package system (all the components in one unit), and can receive a $300 tax credit for purchasing a system with a SEER rating equal or greater than 14 and an EER equal or greater than 12.

You can find out a lot more information about these tax credits and how to apply when you visit the Energy Star website.  There are also credits for adding insulation, energy-saving doors and windows, and much more which are worth a look if you’re planning any other upgrades to improve energy efficiency in your home this year.