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Time is running out for tax credits on furnaces

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There are many metro Detroit businesses that want to make you cool and comfortable or warm and cozy by offering tax credits on the installation of new energy efficient heating and cooling (HVAC) equipment. Well, let’s just stick to the warm and cozy for now.

Thanks to 2013 Federal Tax Credits, homeowners can get up to $300 in tax credits for the installation of energy efficient furnaces and air conditioners. But the deadline is approaching for most HVAC equipment – December 31, 2013.

The following categories for the tax credits that expire this year are:

  1. Biomass stoves
  2. HVAC
  3. Insulation
  4. Roofs
  5. Water heaters
  6. Windows and doors

For the purpose of this article, let’s look at the HVAC equipment that qualifies:

  • Advanced Main Air Circulating Fan – Tax credit $50
  • Air Source Heat Pumps – Tax credit $300
  • Central Air Conditioning – Tax credit $300
  • Gas, Propane or Oil Hot Water Boiler – Tax credit $150
  • Natural Gas, Propane or Oil Furnace – Tax credit $150

If you need more information on how to apply for the credits, you can ask your installing HVAC contractor or visit www.energystar.gov. For a list of Detroit-area professional HVAC contractors who can install your new equipment before December 31st, visit www.semiacca.org and connect with members of the Southeast Michigan Chapter of the Air Conditioning Contractors of America.

But don’t delay, 2014 will be here soon and the tax credits will disappear. Too bad the cold winter weather won’t!

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