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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 |
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Consumers should consult a tax professional to
ensure they qualify for the tax credit. Effective
2011 |
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