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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 calendar
year. |
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Financing provided by Wells Fargo
Financial National Bank, a subsidiary of
Wells Fargo Financial.*
Wells Fargo Financial is an affiliate of
Wells Fargo Bank, N.A.**
*For the Wells Fargo Financial
hyperlink, please link to:
http://financial.wellsfargo.com
**For the Wells Fargo Bank, N.A.
hyperlink, please link to:
http://www.wellsfargo.com |
