Tax Credits

Taxcredit

High Efficiency Tax Credits

On February 17, 2009, President Obama signed a stimulus bill (The American Recovery and Reinvestment Act of 2009) that made some significant changes to the energy efficiency tax credits.  Included in this bill:

  • The tax credits previously effective for 2009, have been extended to 2010 as well.
  • The tax credit has been raised from 10% to 30% of the installed cost.
  • The tax credits that were for a specific amount (ex: $300 for an air conditioner) have been converted to 30% of the installed cost.
  • The maximum credit has been raised from $500 to $1,500 for the two years (2009-2010).  Some improvements such as solar panels and geothermal designs are not subject to the $1,500 limit.  Prudential is now offering the industry's first solar-assisted central heat pump as well as geothermal heat pumps.  
  • We offer a variety of heating and cooling products that will qualify you for these tax credits.  Call us today!

 

Geothermal Tax Credit

In October 2008, geothermal heat pumps were added to section 25D of the Internal Revenue Code, which provides a 30% tax credit for spending on qualified property placed in service through the end of 2016.  The credit was made retroactive to the beginning of 2008, and was capped at $2,000.  In February 2009, the $2,000 cap was removed for property placed in service after December 31, 2008.

Highlights

  • 30% of total system cost
  • No limit to credit amount
  • Can be used to offset AMT tax
  • Can be used in more than one year
  • Can be combined with solar and wind tax credits
  • Can be combined with energy efficiency upgrade credits
  • Call us today to learn about the geothermal products we offer that will qualify you for this tax credit!

Eligibility

  • Does not have to be your main home
  • Includes houses, apartments, condos, mobile homes
  • Must be installed before 12/31/2016
  • We can install a geothermal heat pump in your home that will qualify you for this tax credit!