Save Up to $3,000 on Summer Air Conditioning Specials for San Diego

$300 Federal Tax Credit BugCheck this out – you can save BIG!!! – up to $3,000 this summer on high efficiency  - and environmentally sound air conditioning systems with a variety of cashback options. 

 

The American Recovery and Reinvestment Act of 2009 – better known as the “Stimulus Bill,” was recently signed by President Obama, introducing major changes to the way consumers can use energy efficiency tax credits. Homeowners can now use these credits for products installed for use in 2009 and 2010.  The tax credit amount was   increased from 10% to 30%, with a new maximum credit amount of $1,500 (raised from the previous $500 limit) for qualifying systems installed in the taxpayer’s principal residence from January 1, 2009, through December 31, 2010.

Here’s a short summary of what is covered and how to make the most of the tax credits and rebates:

 
  • The new products purchased under the program must be “placed in service” from January 1, 2009 through December 31, 2010;
  • They must be for use in the taxpayer’s principal residence, EXCEPT for geothermal heat pumps, solar water heaters, solar panels, and small wind energy systems (where second homes and rentals qualify);
  • $1,500 is the maximum total amount that can be claimed for all products placed in service in 2009 & 2010 for most home improvements, EXCEPT for geothermal heat pumps, solar water heaters, solar panels, fuel cells, and small wind energy systems which are not subject to this cap, and are in effect through 2016;
  • To qualify for the credits, the homeowner must have a Manufacturer Certification Statement to qualify;
  • Make sure to keep your receipts and the Manufacturer Certification Statement; and
  • Improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) — use IRS Tax Form 5695 (2009 version) — it will be available late 2009 or early 2010 (see your CPA for specific details.

 

SDGE Also offering Rebate up to $200 on Furnaces and Attic Insulation

San Diego Gas & Electric is also offering a rebate of up to $ 200 on qualifying high efficiency gas furnaces – in addition to the federal tax credits. SDG&E is also offering a 15 cent per square foot rebate on attic insulation. 

Filed Under: Air Conditioning and Heating

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