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2013 HVAC Tax Credits in New Jersey

Did you install a new energy efficient heating or cooling system last year in New Jersey and are you wondering if you apply for the HVAC tax credit available? Thanks to the retroactive reinstatement of the 25C residential tax credits for 2012 that had previously expired on December 31, 2011, you could be eligible!

Any eligible taxpaying homeowner can claim their HVAC tax credits for up to 10 percent (up to $500) of installation costs for a variety of qualified energy efficient retrofit improvements to the HVAC systems, insulation, roof, windows, doors, and hot water equipment of their primary residence. Although the total amount claimed may not exceed $500, the amount you can claim for each type of retrofit improvement is subject to individual price caps.

Does Your 2012 Installation Qualify for an HVAC Tax Credit?

Do you want to know if your high efficiency system qualifies for any HVAC tax credits? Here are the standards, according to Air Conditioning Contractors of America:

  • Split system central air conditioners must meet or exceed 16 SEER or 13 EER
  • Package system central air conditioners must meet or exceed 14 SEER or 12 EER
  • Air source heat pumps must meet or exceed 15 SEER, 12.5 EER, and 8.5 HSPFPackage heat pump systems must meet or exceed 14 SEER, 12 EER, and 8 HSPF
  • Natural gas furnaces, propane furnaces, natural gas hot water boilers, propane hot water boilers, oil furnaces, and oil hot water boilers all must meet or exceed 95 percent AFUE – For the advanced main air circulating fan credit, the fan must use no more than 2 percent of the furnace’s total energy, and if the fan is qualified but the furnace is not, you cannot take 10 percent off the cost of the entire furnace

If you installed any of the above in 2012, and you think you are eligible for any HVAC tax credits in New Jersey, the IRS will soon release information instructing taxpayers on how to file a claim. If it is anything like the previous HVAC tax credits, you will be required to file a Form 5695 when submitting your tax forms, as well as a keep a copy of the Manufacturer’s Certification Statement with your records.

Do you want to learn more about current or upcoming HVAC tax credits in New Jersey? Or are you interested in installing energy efficient heating and cooling systems in your home? Contact Arctic Air Conditioning today! We can provide any of the following services:

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