Legislation that Congress passed and President Obama signed into law to avoid the so-called “fiscal cliff” also retroactively reinstated the 25C tax credits for high-efficiency HVAC and water heating equipment that expired at the end of 2011.
The California Public Utilities Commission (CPUC) has approved an increase in rebates offered through the California Solar Initiative (CSI)-Thermal Program of up to 45 percent. CPUC authorized the higher rebates to help boost adoption of solar water heating technology and encourage involvement in the statewide program.
Because the tax credit on high-efficiency equipment expired, many believe that homeowners will now revert to standard efficiency. Before we throw the high-efficiency equipment out with the bath water, let’s take a close look at how the tax credits affected sales and how they can be replaced in 2012.
A new bill, known as the Cut Energy Bills at Home Act, has been proposed in the Senate. Senate Bill 1914 would establish a $2,000 base credit for homeowners who reduce energy use by 20 percent through the installation of energy-efficient equipment.
Since the tax credit program became available, all types of geothermal options have been on the minds of the building community. The earth loop, often referred to as the refrigerant loop, may be installed in three different configurations: diagonal, vertical, and horizontal.