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Save on Home Upgrades with Federal HVAC System Tax Credits

Great news for homeowners! The Federal Inflation Reduction Act of 2022 presents tax credits for energy-efficient HVAC upgrades, allowing you to save money while improving your home’s efficiency. Eligible equipment includes:

1. Air-source heat pumps
2. Central air conditioners
3. Furnaces

Here’s a breakdown of available tax credits for HVAC upgrades in Georgetown. This guide helps you navigate qualifying upgrades and claiming credits on your taxes. Take advantage of these incentives to craft a comfortable, eco-friendly home.

Air-Source Heat Pump: Claim a 30% Tax Credit

Install an air-source heat pump meeting these criteria between Jan 1, 2023, and Dec 31, 2032:

  • SEER2 rating of 16 or higher
  • EER2 rating of 12 or higher
  • HSPF2 rating of 9 or higher

You can claim 30% of installation expenses, capped at $2,000.

Central Air Conditioner: Enhanced Tax Credits Available

For units purchased and installed after 2022:

  • Split systems need a SEER2 rating of 16 or higher
  • Energy Star-certified packaged systems are eligible

Claim 30% of the project cost, up to $600.

Furnaces: Tax Credits by Fuel Type

  • Gas furnaces require Energy Star certification and a 97%+ AFUE rating.
  • Oil furnaces need Energy Star certification and an approved fuel type.

Claim 30% of the project cost, capped at $600 for qualifying furnaces installed from 2023 to 2032.


How to Claim Your HVAC Tax Credit:

Maintain installation records and manufacturer certifications.

Complete IRS Form 5695 for eligible upgrades.

Utilize one form for multiple upgrades, mindful of the $3,200 annual limit.

Submit completed forms with your federal taxes or consult a tax professional for optimal refunds.”

As a registered contractor for Austin Energy, McCullough Heating and Air Conditioning is proud to offer a FREE Austin Energy-sponsored energy audit. Our goal is to show you the potential of your home and guide you toward making it more energy-efficient, comfortable, and safe.

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