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YOUR NEW UNIT COULD SAVE YOU MONEY ON YOUR TAX BILL

April 17, 2015 | Blog

Del-Air

Is your AC performance lagging of late? It may be time for a new AC unit in Tampa. With more than three decades in the HVAC industry, Del-Air knows that a poorly functioning AC system can have a serious impact on your energy costs throughout the year. Although homeowners are often hesitant to purchase a new air conditioner, the truth is that buying an energy-efficient cooling unit can significantly slash your utility costs while saving you a small fortune on your tax bill. Here are answers to some of the most commonly posed questions about energy tax credits on AC equipment:

  • What Types of Equipment Qualify for the Tax Credit? Homeowners can currently earn tax breaks by purchasing various types of HVAC equipment including new central AC systems, air source heat pumps, and advanced main air circulating fans. Additionally, gas, propane, and oil hot water boilers and furnaces qualify for the credit. At Del-Air, we can help you select the best heating and cooling products to boost energy efficiency while cutting your tax bill.
  • How Do I Secure My Tax Credit After Purchasing New HVAC Equipment? Once you’ve purchased your new HVAC system, you need to file a form 5695 with the IRS to secure your credit. To guard against IRS audits, take care to keep a copy of your receipt as well as the Manufacturer’s Certification Statement. Because tax credits for new ACs may expire at the end of 2016, homeowners should consider buying now so they don’t miss out on this tax-saving opportunity.
  • Are There Loans to Help Me Purchase a New AC? Yes! If you can’t afford a new AC, consider applying for a loan from SELF, the Solar and Energy Loan Fund. With interest rates ranging from 5 to 9.5 percent, these loans are available even to those with below-average credit.
  • Let Del-Air Help Slash Your Energy Bills: Tired of high utility bills ruining your day? A leader in Florida HVAC services, Del-Air is more than happy to advise you on the best ways to take advantage of the above tax breaks and credits. For more information about installing a new AC unit in Tampa with better energy efficiency, call our offices or schedule your cooling consultation online.

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