Federal Tax Credits for Energy Efficient Appliances Extended into 2011 with New Credit Amounts

Federal Tax Credits for Energy Efficient Appliances, such as Furnaces, Air Conditioners, Heat Pumps, and Tankless Water Heaters, have been extended into 2011 with many modifications made to the original 2009 - 2010 legislation.
Jan. 3, 2011 - PRLog -- On December 17, 2010, President Obama announced an extension of the Federal Energy Efficiency Tax Credit into 2011; however, many efficiency requirements and credit amounts within the legislation have changed.  

The former 2009 - 2010 tax credit offered up to $1,500 in credits - 30% off of the total, installed price - while the extension offers up to $500 - 10% off the total, installed price - in Federal tax credits.  The tax credits apply to energy efficient appliances, such as tankless water heaters, furnaces, and boilers - and newly added to the tax credit are air conditioners and heat pumps.

Efficiency requirements:  Furnaces and boilers must have a minimum 95% efficiency level, and are eligible for to up to $150 in credits.   A split air conditioning system must be at least 16 SEER and 13 EER, and a package system must be at least 14 SEER and 12 EER.  Both systems are eligible for up to $300 in credits.  Split heat pumps must be at least 15 SEER and 12.5 EER, and a packaged system must be at least 14 SEER and 12 EER.  Both systems are eligible for up to $300 in tax credits.  Tankless water heaters must have an energy factor of 0.82 or better; and are eligible for up to $300 in credits.

The 95% required efficiency rating on boilers is an increase from the former 90% requirement.      

Another modification: the available $500 credit is not applicable to those who received an efficiency credit from January 1, 2005 to present day.  Simply put, if you claimed a credit since 2005, you are not eligible for the 2011 extension.

Additionally, the Colorado Governor's Energy Office, Xcel Energy, and some municipalities are still offering rebates for the installation for energy efficient appliances.

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