The American Recovery and Reinvestment Act of 2009 (also known as the economic stimulus bill) has been signed into law. This legislation combines spending and tax incentives designed to get the American economy moving again. Part of the tax incentives are for increasing the efficiency and performance of America’s homes and commercial buildings.
One such way to increase the efficiency and performance of your Florida home is to install higher efficiency qualified HVAC systems to your primary residence. When you purchase qualified HVAC systems to improve your home’s energy efficiency, you will qualify for up to $1,500 in tax credits.
How the Tax Credit Program Works
For qualified energy-related home improvements, homeowners may be able to claim tax credits equal to 30 percent of their product and installation costs, up to $1,500. These credits are valid for purchases and installations made from January 1, 2009, to December 31, 2010. The $1,500 limit is for all improvements made during the two-year term, rather than $1,500 each year.