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Air Conditioning Specialists
2618 Airline Blvd.
Portsmouth, VA 23701
Phone: 757-558-9122
Federal Tax Credits for Energy Efficiency

Energy Tax Credit and You

With the passage of President Obama's Economic Stimulus Bill, homeowners may be eligible for a tax credit if they purchase certain types of heating, ventilation and air conditioning (HVAC) systems between January 1, 2009 and December 31, 2016.

How did the tax credit come about?

President Obama on February 17th, 2009 signed the American Recovery and Reinvestment Act into law. This legislation combines spending and tax incentives designed to stimulate the US economy by providing incentives for increasing the efficiency and performance of homes and commercial buildings.

Which products are eligible?

Some but not all of our HVAC products qualify for the tax credit. Contact us to get a list of qualifying products.

How do I apply for a tax credit?

For qualified improvements, homeowners may be able to claim tax credits equal to 30 percent of the installed costs. The new tax credits are retroactive to January 1, 2009 and expire on December 31, 2016.

The tax credit applies as a direct reduction of taxes owed. In the past, IRS has directed taxpayers to use Form 5695 (the Residential Energy Efficient Property Credit). It is expected that the IRS will produce new rules related to the recently enacted stimulus legislation, giving taxpayers further guidance on claiming tax credits. To fully understand how the new tax credit may apply to you and what you can do to obtain one, you should consult with a tax professional for advice on tax preparation, as this tax credit is subject to IRS regulations

How do I learn more about energy efficient products?

To download and print the government's summary of Energy Star products that are eligible for HVAC credits for homeowners, visit https://www.energystar.gov/about/federal_tax_credits.

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