HVAC & Plumbing Tax Credits/Rebates

When homeowners think of replacing an old HVAC or plumbing system, there’s typically one challenge that may keep them on the fence. They may realize that the greater everyday efficiency of a new system will save money over time, but the cost of the system and its installation may hold them back from making the initial investment. Luckily, there are tax credits and manufacturer rebates you can seize to reduce the financial impact of new HVAC and plumbing upgrades.

Federal Tax Credits Available

The federal government offers tax credits for residential energy efficiency through December 2021 that are retroactive to December 31, 2017. That means if you bought any of these upgrades between the dates mentioned earlier, you’re eligible for a tax credit of 10% of the cost up to $500, or a specific amount ranging from $50 to $300. The credits available are as follows.

• Air source heat pumps: $300
• Central air conditioning: $300
• Gas, propane, or oil furnaces and fans: $150
• Gas, propane, or oil hot water boiler: $150
• Non-solar water heater: $300
• Advanced main air circulating fan: $50

Each credit is available only if the system you have installed meets a set of specific requirements for energy efficiency. If you’re unsure about your upgrade’s specifications, you can request them from the contractor who installed the system and compare them to the requirements of ENERGY STAR®. To claim these credits, you’ll have to fill out IRS form 5695 and submit it with your tax return.

Rebates Available

In addition to tax incentives, you can reduce the cost of HVAC or plumbing upgrades by looking for manufacturer, state, and utility rebates. Start by asking your contractor about the rebates available from the manufacturer for specific products. They should tell you how to qualify and where to apply for the rebate. 

Contact your utility provider to determine if your planned or installed equipment meets the qualifications for any rebates they offer. It’s worth noting that you’re more likely to score rebates on electric-powered equipment than on gas-powered, but that shouldn’t deter you from investigating. 

To find out what state-level incentives are available to you, visit the Database of State Incentives for Renewables and Efficiency or the Tax Incentives Awareness Project website.

Energy-Efficient Systems From Blind & Sons

If you’re looking to upgrade your HVAC or plumbing systems to more energy-efficient replacements, now is the time to make your move. Blind & Sons is ready to help you find the systems that qualify for incentives and rebates and install them to the highest standards of professionalism. 

Call Blind & Sons at (330) 753-7711 or contact us online to schedule an appointment today.