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Tax Credits Help You Save

Get rewarded for energy efficiency with Trane products that are eligible for residential energy credits.

Tax 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. Trane also offers flexible financing options, special offers and manufacturer rebates to help make your expense more manageable.

Take a look at your tax credit options on at the federal, state and local level.

Federal Tax Credits

The federal government 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). Credits may even be higher for renewable energy, like geothermal systems.

The Bipartisan Budget Act of 2018 was signed in February 2018, renewing a number of tax credits for residential energy efficiency that had expired at the end of 2016. Tax credits for non-business energy property are now available retroactive to purchases made through December 31, 2017. Tax credits for all residential renewable energy products have been extended through December 31, 2021, and feature a gradual step down in the credit value.

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.

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.

Money Back In Your Hands

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.