Not all energy-efficient HVAC equipment qualifies for tax credits, but there are four renewable energy product categories that do — geothermal heat pumps, small wind turbines, solar energy systems, and fuel cells. All four are available for residential applications and though some seem beyond HVAC, they each have the potential to bring new revenue streams to contractors while saving money for homeowners and energy for the planet.
With the tax credits for these four renewable energy product groups, contractors have the potential to increase sales of renewable installations. They also have the opportunity to add new business segments to their company as the demand for renewable increases. The key to capitalizing on these tax credits is to understand them and communicate their benefits to the customer. Overpromising and selling renewable equipment for the sake of tax credits and increased profits is arguably a bad idea. Contractors who are interested in the art of renewable technology and have a desire to fill customer requests, however, can find a beneficial ally in renewable technology tax credits.