Did you know that you could receive a tax credit for installing a new energy efficient system in your Oklahoma home? If you installed a new HVAC system after January 1, 2011, you could get money back after documenting it on your taxes.
That’s right—systems that are energy efficient and meet a set of requirements set by the IRS are eligible to receive a tax credit. For specific information on this tax credit, contact the experts at Hill & Company. We can help you figure out if your newly installed HVAC unit is eligible.
HVAC Tax Credit Requirements for Oklahoma Residents
Note that not all ENERGY STAR® products will quality for the tax credit. Contact your installation contractor to get specific information about your product and to determine if it meets the requirements.
Energy Efficient Air Conditioners
If you have installed a new AC unit after January 1, 2011, you could receive tax credit. The best way to find out if your new unit is tax eligible is to ask your HVAC contractor. However, air conditioners that are ENERGY STAR® qualified and meet the following requirements may receive this credit:
- SEER must be greater than or equal to 16
- EER must be greater than or equal to 13
- SEER must be greater than or equal to 14
- EER must be greater than or equal to 12
Tax credit can be up to $300 and must filed before December 31, 2016.
Natural Gas, Propane, or Oil Furnace & Fan
If you installed a new heating unit after January 1, 2011, you could receive a tax credit. Heating systems that are ENERGY STAR® qualified and meet the following requirements may receive this credit:
- AFUE must be greater than or equal to 95 on the furnace
- The main air circulating fan must use less than 2% of annual electricity
Tax credits for an energy efficient furnace can be up to $150 and $50 for an advanced main air circulating fan.
Learn More About the 2016 HVAC Tax Credit
If you are in the Tulsa or Oklahoma City area and are looking to learn more about this tax credit, contact Hill & Company. Our local HVAC company can walk you through the steps to getting your tax refund back for your energy efficient HVAC system.
Install a New Efficient Air Conditioner or Furnace in OK
If you are thinking about installing a new energy efficient air conditioner or heating unit this year, why not get money back for your purchase? Call Hill & Company to decide which HVAC unit would be best for your needs and budget and which one meets the federal tax credit requirement.