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2011 Tax Credit Extension
As part of the recently
passed tax bill, the 25C tax extension for residential
high efficiency property has been extended for one
year. The maximum tax credit that can be claimed has
been reduced from $1500 to $500 for 2011. In addition,
the 2011 tax credits have placed maximum amounts that
can be claimed for the various components of the HVAC
system, such as a $150 maximum tax credit for a 95% gas
furnace and $300 for an air conditioner or heat pump.
These component maximum amounts are additive to the $500
maximum lifetime tax credit.
Most of the HVAC
qualifying efficiency levels have remained the same.
The only exceptions are boilers and oil furnaces, where
the qualifying efficiency has been increased from 90
AFUE to 95 AFUE. The following chart summarizes the
difference between the 2009-10 tax credits and the newly
passed 2011 tax credits. Changes in the tax credits for
2011 are highlighted in red
|
Product |
2009-2010 Tax
Credit |
2011 Tax
Credit |
|
General
Provision |
30% of
installed cost up to $1500 |
10% of
installed cost, up to $500 |
|
Central AC |
Split
System:16 SEER & 13 EER
Packaged Unit: 14 SEER & 12 EER
30% of installed cost, $1500 max |
Split
System:16 SEER & 13 EER
Packaged Unit: 14 SEER & 12 EER
10% of installed cost, $300 max |
|
Furnaces |
Gas Furnace:
95 AFUE
Oil Furnace: 90 AFUE
Boilers: 90 AFUE
30% of installed cost, $1500 max |
Gas
Furnace: 95 AFUE
Oil Furnace: 95
AFUE
Boilers: 95 AFUE
10% of installed cost, $150 max |
|
Efficient
Indoor Fan |
30% of cost
of fan, $1500 max |
$50 |
|
Heat Pump |
Split System:
15 SEER, 12.5 EER. 8.5 HSPF
Packaged Unit: 14 SEER, 12 EER, 8 HSPF
30% of installed cost, $1500 max |
Split
System: 15 SEER, 12.5 EER. 8.5 HSPF
Packaged Unit: 14 SEER, 12 EER, 8 HSPF
10% of installed
cost, $300 max |
|
* Consumers should consult a tax
professional to ensure they qualify for the tax
credit. Effective 2011 calendar year. |
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