News

Cash In On Energy Efficiency Tax Credits!

February 5th, 2014

Did you do a home improvement to your primary housing in 2012 or 2013? Are you considering doing any home improvements between now and December 31, 2016? Take advantage of the tax credits currently available for certain energy efficient home improvements made within these time frames. Thanks to the American Taxpayer Relief Act, you can receive a $500 credit for any qualifying home improvement made in 2012 or 2013.

If you purchased or installed any of the following in 2012 or 2013, you may qualify:

  • Insulation
  • Windows or Doors
  • Air Sealing
  • Natural Gas or Propane Furnace
  • Electric Heat Pump
  • Central Air Conditioning Unit
  • Air-Source Heat Pumps
  • Gas, Propane, or Oil Water Heaters
  • And More!

In addition to the $500 credit, there are also 30% back credits with no upper limit on more advanced systems. Systems such as geothermal heater pumps, turbines, and solar energy systems can qualify if they were installed at your primary or secondary residence. Rental homes are excluded from this offer. Residential fuel cell and microturbine systems may also qualify if installed on primary homes. Secondary homes and rental homes are excluded from this offer.

This extra tax credit is extended through 2016, meaning you can still get the work done this year and apply it to next year’s tax season!

With the 30% tax credit from the and the extra savings from using an energy efficient system, buying and installing an upgrade or replacement has become much more affordable.

For more information on this tax credit, to find out if you qualify, and how to claim it, click  here  to be directed to the  ENERGY STAR  website. You can locate  IRS form 5695 here  to apply for the Residental Energy Efficient Property Credit or the Nonbusiness Energy Property Credit. Interested in installing an energy efficient air conditioning system? Contact Tucson air conditioning company Russett Southwest for more information today.