feature_TaxCredits

New Residential Tax Credits Available For Appliances (And Other Energy-Efficient Upgrades)

If you made any energy-efficient upgrades to your primary home last year, or you’re considering making any between now and 2014, be sure and see if you qualify for any of these exciting new tax credits.

Water Heater

Get up to a $300 tax credit when you install a new natural gas, propane or electric water heater.
In order to be eligible for a tax credit, the water heater must:

  • Have an Energy Factor (EF) ≥ 0.82 OR a thermal efficiency of at least 90% (For electric water heaters, the EF must be ≥ 2.0)
  • Be installed in an existing, principal residence home between January 1, 2012 and December 31, 2013

Furnace

Get up to a $150 tax credit when you install a new natural gas or propane furnace.

In order to be eligible for a tax credit, the furnace must:

  • Have an Annual Fuel Utilization Efficiency of ≥ 95
  • Be installed in an existing, principal residence home between January 1, 2012 and December 31, 2013

Heating, Ventilating, Air Conditioning (HVAC)

Get up to a $50 tax credit on an Advanced Main Air Circulating Fan and up to $300 on an Air Source Heat Pump.

In order to be eligible for a tax credit:

  • The Advanced Main Air Circulating Fan must use no more than 2% of the furnace’s total energy
  • The Air Source Heat Pump must meet the following ratings:
    • Split Systems: HSPF ≥ 8.5
      EER ≥ 12.5
      SEER ≥ 15
    • Package systems:
      HSPF ≥ 8
      EER ≥ 12
      SEER ≥ 14

Insulation

Get up to a $500 tax credit (or 10% of the cost of qualifying insulation).

In order to be eligible for a tax credit, the insulation must feature:

  • Typical bulk insulation products, such as batts, rolls, blow-in fibers, rigid boards, expanding spray, or pour-in-place
  • Products that air seal (reduce air leaks) as long as they come with a Manufacturers Certification Statement, including weather stripping, spray foam in a can (designed to air seal), caulk (designed to air seal), or house wrap

Windows 

Get up to a $200 tax credit (or 10% of the cost) when you include ENERGY STAR qualified windows.

Solar

Get a tax credit for up to 30% of the cost (or up to $500 per .5 kW of power capacity) when you install a new solar water heater or solar photovoltaic system.

In order to be eligible for a tax credit:

  • At least half of the energy generated by the solar water must come from the sun, and the system must be certified by the Solar Rating and Certification Corporation (SRCC) or a comparable entity endorsed by the government of the state in which the property is installed
  • The solar photovoltaic system must provide electricity for the residence, and must meet applicable fire and electrical code requirement


 

For more information, call 800.427.7712 to speak with an FPU Customer Service Representative. Or, click on the link below to view other important qualifying factors, or to see what other tax incentives may be available:

http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

Have Questions? Ask the Energy Expert!