Nashville $1500 Stimulus Credits

We know Energy Conservation is important... And so is the conservation of your hard earned dollars. In this section you will find out about Energy Rebate Programs and HVAC Federal Energy Conservation Tax Credits to help you keep your money in the bank. On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act of 2009 (ARRA) into law. The bill combines spending and tax incentives designed to get the American economy moving again by investing in our nation's road and energy infrastructure, and increasing the energy efficiency and performance of America's homes.

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Stimulus Bill Tax Credits

Qualifying levels for insulation must meet 2009 IECC
o Equipment installed after date of enactment must meet the above standards to qualify while previous-qualifying equipment installed prior to enactment also remains eligible
• Section 1122: Eliminates dollar cap and establishes credit for full 30% of installation costs for solar electric and solar water, wind, and geothermal heat pumps.

FAQ'S

Here are some answers to several frequently asked questions so far:

Q:  When does this go into effect?
A:  Unless stated otherwise in the bill, today is the effective date.  Specifically regarding the residential efficiency credits, the expanded $1,500 credit is retroactive to the start of 2009.  Products that qualified for the existing $500 credit will still qualify for the $1,500 credit if installed prior to today.  Equipment installed today through 12/31/2010 must meet the minimum requirements outlined in HARDI's summary.

Q:  Is it a $1,500 credit in both 2009 and 2010?
A:  No.  $1,500 is the total credit available to primary residence households for 2009 and 2010.

Q:  What if a customer claimed the $500 efficiency credit previously in 2006, 2007, or 2009?
A:  It does not affect this credit.  Those same customers are still eligible for the full $1,500 credit for qualified improvements made in 2009 and 2010.

Q:  What about envelope improvements?
A:  Upgrades to doors and windows must now have U-factors or SHGC of .30 or lower to qualify and insulation must meet 2009 IECC requirements.  These improvements count towards the $1,500 cap in 2009 and 2010.  The previous thresholds qualify for the credit if installed between 1/1/09 and 2/16/09.

Q:  What about advanced circulating fans now?
A:  30% of the costs associated with the installation of fans that use less than 2% of the total furnace energy consumption qualify.

Q:  What about solar and geothermal systems?
A:  30% of the total installation costs of solar hot water, solar electricity, wind generation, and geothermal heatpumps can now be recovered as a tax credit without any dollar limitations.

Q:  What about replacement jobs in which a 95% AFUE furnace but only a 13 SEER a/c is installed?
A:  30% of the final installation costs up to $1,500 associated specifically with the 95% AFUE furnace will qualify for the credit.  Should the installation costs associated with the furnace not reach $5,000, 30% of the installation cost can still be claimed and the difference between that amount and the $1,500 cap can be applied to any other qualifying improvements.

Q:  Do these improvements apply to new home construction as well?
A:  No.  On-site renewables generation such as solar and wind qualify for new construction credits, but not the envelope or HVAC credits addressed above.

If you are looking for a professional HVAC, and/or electrical company in the Nashville area, please call us today at 615-837-4449 or complete our online service request.