Stimulus bill contains equipment credits
The
$787 billion economic stimulus bill to be signed by President Barack Obama
today includes provisions favorable to the HVAC industry, the ACCA says.
The $787 billion economic stimulus bill to be signed by President Barack Obama today includes provisions favorable to the HVAC industry, the Air Conditioning Contractors of America said.
It will allow homeowners to claim 30 percent of the cost - up to $1,500 - for the installation of higher-efficiency furnaces and boilers, air-source heat pumps, central air conditioners, and hot water heaters in 2009 and 2010.
The previous tax credits were limited to $300 for central air conditioners and heat pumps and $150 for furnaces and boilers.
The final bill includes changes to the equipment that qualifies for the tax credits, including an increase in the minimum seasonal energy-efficiency rating for central air conditioners and a decrease in the minimum annual fuel utilization efficiency level for boilers. Heat pump standards were also changed.
ACCA President and CEO Paul T. Stalknecht applauded the package.
“Surveys show that homeowners want to install higher-efficiency appliances but the higher investment costs have always been a barrier,” Stalknecht said. “These tax credits help shorten the payback period and allow homeowners to benefit from lower utility costs and increased comfort, all while consuming fewer fossil fuels.”
Obama is expected to sign the bill this afternoon at Denver’s Museum of Nature and Science.
The $787 billion economic stimulus bill to be signed by President Barack Obama today includes provisions favorable to the HVAC industry, the Air Conditioning Contractors of America said.
It will allow homeowners to claim 30 percent of the cost - up to $1,500 - for the installation of higher-efficiency furnaces and boilers, air-source heat pumps, central air conditioners, and hot water heaters in 2009 and 2010.
The previous tax credits were limited to $300 for central air conditioners and heat pumps and $150 for furnaces and boilers.
The final bill includes changes to the equipment that qualifies for the tax credits, including an increase in the minimum seasonal energy-efficiency rating for central air conditioners and a decrease in the minimum annual fuel utilization efficiency level for boilers. Heat pump standards were also changed.
ACCA President and CEO Paul T. Stalknecht applauded the package.
“Surveys show that homeowners want to install higher-efficiency appliances but the higher investment costs have always been a barrier,” Stalknecht said. “These tax credits help shorten the payback period and allow homeowners to benefit from lower utility costs and increased comfort, all while consuming fewer fossil fuels.”
Obama is expected to sign the bill this afternoon at Denver’s Museum of Nature and Science.
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