PRESS RELEASE: FOR IMMEDIATE RELEASE
Coconut Creek, FL, December 28, 2010 – Recent legislation passed by both Houses last week and signed into law by President Obama has extended the tax credits for homeowners who make qualified energy efficient retrofits to their homes. Known as the 25C Tax Credits, these tax credits are extended through 2011, but contain some differences from the previous 2009 – 2010 tax credits that homeowners should be aware of such as: a cap on the total amount of credits homeowners are eligible for, varying maximums set by product group, and changes in qualifying equipment standards.
From January 1, 2011 through December 31, 2011, eligible homeowners can claim 10% of the costs, capped at $500, for the installation of qualified energy efficient improvements, with some limitations. The cap is on the total amount of credits a homeowner can claim between 2006 and 2011, not just for 2011. Joe Canosa, General Manager of Lindstrom Air states, “A homeowner who has already claimed $500 or more in credit through this allowance will be unable to claim new credits for improvement made during 2011.”
Next, all qualifying energy efficient products have a tax credit worth 10% of installed costs with restrictions set to establish maximum limits for the different product categories. Qualifying central air conditioners have a $300 maximum; gas heating systems, oil heating systems, boilers a $150 maximum; heat pumps a $300 maximum; and water heaters a $300 maximum. These individual maximum amounts are additive to a $500 maximum lifetime tax credit.
And lastly, the qualifying standards for the central air conditioners, heat pumps and water heaters have not changed; however, the new law increases the qualifying standards for natural gas hot water boilers, propane hot water boilers, oil heating systems and oil hot water boilers to 95% AFUE (from 90% AFUE). The qualifying standards for natural gas heating systems and propane heating systems remain at 95% AFUE.
The extension of the federal tax credits give homeowners another chance to replace old, inefficient heating, cooling and plumbing systems and save money. “Advancements in technology, energy efficiency, and performance in the last ten years mean that the equipment you buy today will pay for itself quicker,” states Canosa. “Replacing older, inefficient equipment allows you to save money with the tax credit, lower energy usage and decrease your monthly utility bills.”
Lindstrom Air Conditioning was founded by Carl Lindstrom in 1975 in Ft. Lauderdale, Florida. Since 1975, Lindstrom has evolved into one of Florida's oldest and most trusted service companies with more than 150 team members. Lindstrom is proud of their tradition of excellence serving homeowners and businesses in Florida. Lindstrom is committed to investing the time and resources needed to improve the quality of life for the residents and businesses in the Southeast Florida area. For more information go to, www.lindstromair.com.