Having an energy-efficient HVAC system installed can help you reduce your energy usage by as much as 30 percent. This means you’ll end up with lower heating and cooling bills throughout the year in your Dayton home. Thanks to available tax credits and other incentives, you’ll also have a chance to save even more money, but you’ll have to act fast before they expire.
Federal Income Tax Credits
The government offers tax credits for homeowners who make the switch to energy-efficient heating and cooling equipment. If you have an eligible Energy Star HVAC product installed in your home before the credit expires, you’ll save 10 percent on it up to $500 or a certain amount that falls between $50 and $300. This tax credit, which expires on Dec. 31, 2016, can be used for eligible furnaces, central air conditioning units and water heaters. Just keep in mind that this tax credit is only available for your current home or your principal residence, not for second homes, new homes, or rentals.
Ohio Incentives
Ohio utility companies and the state government offer different kinds of incentives for homeowners who install qualifying energy-efficient systems. These include the following:
- Eco-Link: The Energy Conservation for Ohioans program provides an opportunity for homeowners to save 3 percent on a loan for installing energy-efficient water heaters, geothermal heat pumps, furnaces, and central air conditioners.
- Dayton Power and Light: This utility company offers rebates for energy-efficient air conditioning, heat pumps, geothermal heat pumps, programmable thermostats, and heat pump water heaters. These rebates range from $100 to $1,600.
- Vectren Energy Delivery of Ohio: This natural gas company offers rebates for natural gas furnaces and boilers, as well as programmable thermostats, that meet energy-efficient standards. Rebate amounts, which range from $100 to $300, depend on the type of system or equipment being installed.
If you’re ready to make sure you use tax credits while they’re available, contact Ace Hardware Home Services. We install energy-efficient heating, cooling and geothermal systems in the Dayton area.
Our goal is to help educate our customers in Dayton, Ohio about energy and home comfort issues (specific to HVAC systems).
Credit/Copyright Attribution: “Maialisa/Pixabay”
