Learning About Commercial HVAC Systems
About Me
Learning About Commercial HVAC Systems

Hello, my name is Jacob. I would like to talk about proper installation and repair of the HVAC system in your commercial building. Full scale HVAC systems for commercial buildings require ongoing maintenance and repairs to keep every floor and room at a comfortable temperature. These temperature control systems also control the air quality in the building by sending the airflow through filter elements. My site will cover all aspects of the upkeep needed for these systems. I will also talk about the benefits of keeping your air quality and temperatures at desirable levels. Thanks for coming to visit my website.

Learning About Commercial HVAC Systems

How To Save Money On Your Taxes By Upgrading Your HVAC Systems

Isaiah Chapman

You probably know that investing in a new heating system, cooling system, heat pump, water heater and/or other HVAC appliance can help you save money on your monthly energy bills as well as help reduce your household's carbon footprint and its impact on the environment. However, did you also know that making qualified upgrades to your HVAC systems can also save you money on your federal taxes and sometimes your state and local taxes?

What are the Federal Income Tax Credits for Energy Efficiency

The U.S. Federal Income Tax Credits for Energy Efficiency is an incentive program designed to encourage homeowners to upgrade their HVAC systems with more fuel-efficient systems and appliances. The tax credits range from 10 percent (up to a maximum of $500) to 30 percent of the cost of the equipment and sometimes the installation, depending on the category of system. In most cases, the tax credits are applicable only to your primary residence (not a rental or vacation home.) New construction is also excluded in all but a few categories. Most of the credits expire at the end of 2016. A few, such as those for solar systems, geothermal heat pumps and residential wind turbines, continue through 2020, although the percentage of the tax credit decreases by a little each year.

What HVAC products qualify for the tax credits

A variety of heating and cooling products are included in the federal tax credit program. These include biomass stoves; geothermal and air source heat pumps; solar water heaters; central air conditioning systems; propane, natural gas and fuel oil-powered heating systems; advanced main circulating fans; propane, natural gas and fuel oil-powered fans; propane, natural gas and fuel-oil powered boilers; and non-solar water heaters.

How you apply

Claiming the tax credits for energy efficiency is easy. Once you've made the qualifying purchases and had the appliances and systems installed, you file IRS form 5695 with your regular tax return. The amount of the credit is automatically added to your refund or deducted from your tax obligation.

Since not every item for sale in every category qualifies for the tax credit, it's important to consult a heating and cooling specialist before making a final purchasing decision if you're counting on being able to get the tax credit. Your HVAC contractor will also be able to tell you want state and local tax credits are available in your area, if any.