Central Air Conditioning Home Improvement Tax Credit - Money In Your Pocket For 2009

Central air conditioning home improvement tax credits are back by popular demand, or should I say, unpopular demand. In 2005, the Bush administration implemented the federal tax credit for energy efficiency. This tax credit covers a wide spectrum of home improvements, but for the sake of this writing, we are concentrating on the central air conditioning, home improvement tax credits that permit homeowners to take advantage of direct tax credits for replacing older inefficient heating and air conditioning systems with advanced efficiency, Energy Star rated appliances.

The previous 2005 program ran through and expired at the end of December, 2007. Home improvements finished during 2008 were not qualified for this program, but, in light of the ever mounting economic downturn looming the close of last year, on October 3, 2008, President Bush signed into law the "Emergency Economic Stabilization Act of 2008." This bill extended tax credits for energy efficient Home Heating & Cooling System improvements. Tax credits for these housing products, which had expired at the end of 2007, will again be offered for improvements made during 2009.

These are the following Tax Credits available for heating and central air conditioning improvements:

$300 - Split System Air Conditioning - 15 SEER Minimum
$300 - Air Source Heat Pumps - 9 HSPF or 15 SEER Minimum
$150 - Gas, Oil, Propane Furnace or Hot Water Boiler - 95% AFUE Minimum
$ 50 - Advanced Main Air Circulating Fan - < 2% furnace total energy use

What does this means to you the taxpayer, by purchasing? A qualifying air conditioning unit, along with a qualifying gas furnace, where the additional advanced Main Air circulating fan, which in simple terms "variable speed drive", you would be eligible for up to a $500 tax credit that you can apply to your 2009 federal income tax filing.

If you're taking into consideration upgrading you're heating and air-conditioning system, 2009 will be a terrific year for that, and these added tax credits will permit you to upgrade your homes energy efficiency. It is important to note, that not all ENERGY STAR qualified homes and products qualify for a tax credit. Tax credits are available for a number of products at the highest efficiency levels, which can cost more than standard products. ENERGY STAR distinguishes energy efficient products which, although they may cost more to purchase than standard models, will pay you back in lower energy bills within a reasonable amount of time, even without a tax credit.

These tax credits are not automatic. You must submit a form that authenticates your specific qualifying brand and model numbers. Your HVAC contractor or supplier should furnish these documents. Qualifying brands and models can be found at the U.S. Government Energy Star Website.

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