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Tax Credits

You may be eligible for an energy efficiency tax credit.

Trane offers many products that are eligible for residential energy credits.

If you purchase certain types of HVAC systems or make other energy-related improvements to your home, you may be eligible for an energy tax credit.

As a leader in producing energy efficient home comfort solutions, Trane offers many products that are eligible for residential energy credits. Whether you’re shopping for a new system or you recently upgraded, it’s important to factor in the money you could be saving in the long run.

As a leader in producing energy efficient home comfort solutions, Trane offers many products that are eligible for residential energy credits. Whether you’re shopping for a new system or you recently upgraded, it’s important to factor in the money you could be saving in the long run.

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STATE-LEVEL

State Tax Credits

Most states have regulations and tax credits available.

Take a look at the programs available in your state. For example, New Jersey has the COOLAdvantage Program which provides rebates for energy efficient central air conditioners or heat pumps as well as "best practices" on proper sizing and installation that affect operating efficiency.

FEDERAL-LEVEL

Federal Tax Credits

The federal government also offers energy efficiency tax credits.

For qualified HVAC improvements, homeowners may be able to claim 25C tax credits equal to 10% of the installed costs (up to $500 maximum). The extended tax credit is in effect for all qualifying systems and products installed during the 2012 through 2016 calendar years and expires on December 31, 2016. For the most updated federal energy tax credit information, be sure to consult with a professional tax expert.

LOCAL-LEVEL

Local Tax Credits

Some residential energy credits are available at the neighborhood level.

Con Edison, an energy utility in New York offered a rebate up to $800 for mini-split heat pumps through October 3, 2016 in select neighborhoods throughout Brooklyn and Queens. While this program is temporary, may be many others just like it around the country.


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How to apply for a tax credit

Subject to IRS regulations, tax credits apply as a direct reduction of taxes owed. To apply for an energy efficient tax credit, you need to submit Form 5695 when you file taxes. Also, save the Manufacturer’s Certification Statement for your records. Be sure to consult your tax professional for advice on taking advantage of energy efficient tax credits and for advice on and/or assistance with tax preparation.

Find Your Tax Credit Equipment

Tax credit eligible products

Split system air conditioning

Must meet 25c requirements of 16 SEER / 13 EER (both efficiency levels must be met to qualify for the tax credit) Manufacturer’s Tax Credit Certificate

Split system heat pump

Must meet 25C requirements of 15 SEER/12.5 EER/8.5 HSPF (all three efficiency levels must be met to qualify for the tax credit) Manufacturer’s Tax Credit Certificate

Gas furnace

Must meet 25C requirements of 95% AFUE Manufacturer’s Tax Credit Certificate

Advanced main air circulating fan

Gas furnace or packaged system with an advanced circulating fan that utilizes no more than 2% of furnace total energy use per 25c requirements. Manufacturer’s Tax Credit Certificate

Packaged air conditioning, heat pump or dual fuel products

Must meet 25C requirements of 14 SEER, 12 EER, 8 HSPF Manufacturer’s Tax Credit Certificate

Geothermal Systems

Energy Improvement and Extension Act of 2008 (H.R. 1424). H.R. 1424 offers a one time tax credit of 30% of the total investment for systems that meet or exceed Energy Star requirements and be installed after December 31, 2007. Manufacturer’s Tax Credit Certificate

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