The federal government and state governments have been encouraging homeowners to invest in energy-efficient HVAC systems by offering tax credits. One of the common reasons for homeowners to put off getting these systems is the cost of installation compared to traditional systems.
Tax credits help offset this cost, making energy-efficient systems more affordable. Don’t miss out on the following credits for this year.
Federal Tax Credit
Homeowners can save a certain percentage of the cost of installing eligible Energy Star products in their homes if they do so by the end of the year. These products include air source heat pumps, central air conditioning, hot water boilers that use gas, oil, or propane, furnaces and fans that use gas, oil, or propane, and non-solar water heaters. Homeowners who have eligible products installed in their existing home or principal residence can save either 10 percent of the cost up to $500 or a specific amount that ranges from $50 to $300. This offer is set to expire on December 31, 2016.
State Tax Credits and Rebates
The state of Ohio offers homeowners tax incentives, as well as rebates and savings to help cover the cost of installing energy-efficient heating and cooling equipment. These include the following in the Lorain area:
- Columbia Gas: Customers who enroll in Columbia Gas of Ohio’s Home Performance Solutions Program can receive a rebate of $300 for energy-efficient furnaces, $350 for energy-efficient boilers, and $50 for an energy audit.
- Energy Cooperative: The Energy Cooperative offers rebates for dual fuel heat pumps, water heaters, and central air conditioners that are energy-efficient. These rebates range from $100 to $599 depending on the type of product installed.
- Eco-Link: The Treasurer of State offers this Energy Conservation for Ohioans program to homeowners who invest in energy-efficient heating and cooling equipment and water heaters. The program helps homeowners qualify for a 3 percent loan rate through participating banks.
If you need to have a new HVAC system installed to take advantage of 2016 tax credits, please contact Energy 1 Heating & Air Conditioning.
Our goal is to help educate our customers in Lorain, Ohio about energy and home comfort issues (specific to HVAC systems). For more information about tax credits and other HVAC topics, download our free Home Comfort Guide or call us at 440-201-2959.
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Energy 1 Heating & Air Conditioning
1 (440) 246-5440
Serving the Lorain, OH Area