ENERGY & TAX CREDITS/INCENTIVES
Energy and Tax Credits
An application must be filled out and sent back to WELTON’S HEATING & COOLING within TWO (2) weeks of installation. Once your application is received, we will be able to process the application and send it in.
Flexible, affordable financing is available. Please contact us for more information on our available financing options.
Homeowners who have previously used the 25c tax credits do not qualify for further tax credits. We recommend you check with your accountant to be sure you qualify for these offers:
- Federal Tax Credits
- Furnaces with an efficiency of 95% afue or higher qualify for $150 tax credit
- Furnaces with a ECM motor ( X-13 or variable speed) qualify for a $50 tax credit
- Air Conditioners with an efficiency of 16 SEER and 13 SEER or higher qualify for a $300 tax credit
Please contact us for more information on receiving an application. Please allow 8 -12 weeks for delivery of rebate checks.
- $500 for Natural Gas Furnace 94% AFUE or Higher AHRI Rated
- $75 for factory-installed ECM Motor furnaces
- $150 for Air Conditioners with a 15 SEER efficiency rating
- $250 for air conditioners with a 16 SEER efficiency rating
Geothermal Tax Credits
An exciting new tax credit is now available for home and commercial building owners who install geothermal heating and cooling systems through the Energy Improvement and Extension Act of 2008 (H.R. 1424). H.R. 1424 offers a onetime tax credit of 30% of the total investment for homeowners who install residential ground loop or ground water geothermal heat pumps. A credit of 10% of the total investment is also available (no maximum) for a commercial system installation.
To qualify, the systems must meet or exceed EnergyStar requirements and be installed after December 31, 2007. While units installed in 2008 are subject to a $2,000 cap on the credit, units installed from 2009 through 2016 can take advantage of the full credit. Owners can file for the credit by completing the Renewable Energy Credits subsection on their tax return forms for 2008. For taxpayers that are subject to the Alternative Minimum Tax, they can claim the credit on their taxes for the following year. No proof of purchase will be required; however, in case of an audit, owners are encouraged to keep a detailed invoice of their purchase on file. The contractor who sold and installed the product should list the purchase as a “Geothermal Heat Pump” on the invoice and that it “Exceeds requirements of Energy Star program currently in effect”.
The tax credit is available through December 31, 2016. Consult your local tax professional for advice on taking advantage of the tax credit, as this announcement is not intended as a recommendation or endorsement of any financial strategy.