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The energy tax credits that the U.S. Congress reinstated in January 2013 will expire at the end of the year. These credits help offset the cost of installing new, high-efficiency heating and cooling systems. You can deduct 10 percent off the cost for a maximum credit of $300 for air conditioning systems and heat pumps or $150 for forced-air or radiant heating systems.
If your current HVAC equipment isn’t running efficiently, requires frequent repairs, or is over 10 years old, this year could be a good one to take advantage of these federal tax credits. They cover primary residences only and are for existing homes, not new construction. Minimum standards for heating and cooling systems depend on the type you choose.
- Package systems are those where all the components sit in one unit outside, in the attic or on the roof. The SEER (seasonal energy efficiency ratio) must be…
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