Your Corona CA Air Conditioning Replacement Specialists Can Help You Get the Perfect New Unit
In recent years, climate change has become a pressing concern for individuals and governments alike. From large-scale solutions like international emissions caps to small-scale ones like the buy local movement, many different approaches have been taken towards solving the problem of climate change.
One idea that could contribute significantly to reducing global warming is to ensure that everyone’s heating and cooling systems operate at peak efficiency. According to figures provided by the US government, if every new furnace sold in the country met their standards for efficiency, we could reduce greenhouse gas emissions significantly. In fact, the reduction would be equivalent to the annual emissions from 177,000 cars.
The US government has taken two major steps to encourage and facilitate the switchover from old, inefficient and wasteful HVAC systems to new, efficient ones. The first was to create the Energy Star System to rate the efficiency of various appliances and educate consumers about their choices. The second was to create tax credits to encourage Americans to actually purchase efficient equipment next time they needed furnace replacement or heating repair Corona CA for example.
Tax Credit Details
The energy-efficient tax credits were first introduced by President Bush in the Energy Policy Act of 2005. The act allowed for tax credits of up to $500 for energy-efficient systems installed in 2006. In 2009, President Obama modified the tax credits under the American Recovery and Reinvestment Act, allowing credits of up to $1,500. This modification was temporary and expired in 2010. The $500 credit also expired at the end of 2011.
On the first of January, 2013, Congress reinstated the tax credit at the $500 rate. This tax credit reflects the total savings possible for a homeowner or business that updates multiple eligible HVAC systems. If, for example, you needed heating repair Corona CA and only updated your furnace or boiler, your credit would be capped at $150.
Do Tax Credits Really Help Limit Climate Change?
Tax credits are better than tax deductions, because credits reduce your tax burden on a dollar for dollar basis. Still, is a $150 credit really providing any incentive to switch to high-efficiency equipment? Experts in the HVAC industry think not. While the $1,500 credits did help level the playing field between high-efficiency and regular systems, the reduced credit will not be much of a motivator. At best, it is a small bonus or reward for helping the environment.
So while you might not be inspired to switch to a higher efficiency system by this reinstated tax credit, don’t neglect to file for the credit if you do complete an eligible heating repair Corona CA in 2013!
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