tax incentives 2015 for HVAC systemsTax incentives that expired in 2014 are now being extended by the Tax Increase Prevention Act of 2015. High efficiency heating and cooling systems installed between January 1, 2015 and December 31, 2016 are eligible for this tax incentives / tax credit up to $500 for an eligible tax payer.

If you have had an air conditioner installed during the eligible time period your credit would be up to 10%of the installed costs, with a $300 cap, on a central split system air conditioner meeting or exceeding 16 SEER or 13 EER. SEER is seasonal energy efficiency rating and EER is energy efficiency rating. These are rating systems from Air Conditioning and Refrigeration Institute.

Heat Pumps that you have had installed since January 2015 are eligible for a tax credit up to 10% of the installed costs, $300 cap, on central split system heat pumps meeting or exceeding 15 SEER, 12.5 EER, or 8.5 HSPF.  HSPF stands gor heating and seasonal performance factor.

Gas Furnaces that have been installed during the extension period are eligible up to 10% of the costs, $150 limit, as long as they are 95% AFUE or higher. AFUE stands for annual fuel utilization efficiency.

Air handlers or fans installed are eligible up to 10% of the installed costs with a limit of $50 for an advanced main air circulating fan. The fan cannot use more that 2% of the furnace total energy usage.

Again this goes through the end of 2016 as long as your system is installed by December 31st you are eligible for the tax credit. More on tax incentives