Heating and cooling your home can get pricey, particularly if you have an older HVAC system in place. Upgrading to energy efficient products can not only cut back on your monthly bills, they can also save you money when it’s time to file taxes. Energy tax credits are the governments way of rewarding you for going green. Tax credits are eligible for products purchased during the previous year (i.e. you purchased an energy efficient washer and dryer in 2016, you can claim your tax credit next year when you file taxes). Below is a list of both federal and state tax credits for HVAC products or systems.
HVAC Tax Incentives*
10% of cost up to $500, or a specific amount from $50-$300 for qualifying products
This federal tax credit can be used on qualifying Air Source Heat Pumps, Central Air Conditioning (CAC), Gas, Propane, or Oil Furnaces and Fans.
$352-$492 Gas Furnace “e”
This Oregon state tax credit is dependent on electrically efficient AHRI e-ratings and Annual Fuel Utilization Efficiency (AFUE).
$800-$1,125 Air-source Ducted Heat Pump
This Oregon state tax credit is dependent upon Heating Seasonal Performance Factor (HSPF).
$1,200-$1,300 Ductless Heat Pump (mini-split)
This Oregon state tax credit is dependent upon HSPF.
The Federal Government and state of Oregon offer several energy tax incentives on a variety of products. Learn more about 2015 Federal Tax Credits and Oregon’s Residential Energy Tax Credit Program – you’ll find a full list of qualifying products and technologies, as well as downloadable applications and instructional forms.
Wondering if your current system is eligible for tax credits? Give us a call and our HVAC professionals will help you determine what incentives can help you save. If it’s time for an upgrade, take a look at our energy-saving HVAC products. We’re certified with NW Natural and Energy Trust of Oregon and we’re ready to help provide you with cost saving energy incentives. Contact us today to schedule a 100% FREE ESTIMATE for any replacement unit.
*Tax credit specifications can change each year. The incentives listed are based on 2015 Federal and State Tax Credits, which expire on December 31, 2016.