Boone Heating & Air Conditioning

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"American Recovery and Reinvestment Act of 2009"
Signed into law February 17, 2009

On Tuesday, February 17, 2009, President Obama signed into law H.R. 1, the American Recovery and Reinvestment Act of 2009 (version 8), which is composed of two primary parts. Division A is a series of appropriation provisions while Division B is primarily tax and other provisions and includes specific incentives for residential high-efficiency HVAC equipment.
Subtitle B, Energy Incentives, Part III

Section 1121 Extension and Modification of Credit for Non-Business Energy Property (for residential replacements only)

Increases existing residential efficiency credit from $500 to $1,500 for all of 2009 (retroactive) and 2010. Up to 30% of qualified energy efficiency upgrades to a cap of $1,500 to a primary residence is eligible for a credit.
Eliminates lifetime limit, meaning that any of the $500 credits claimed in 2006 or 2007 do not count against the $1,500 credit cap in 2009 and 2010.
Eliminates product-specific credit caps.

Qualifying HVAC and plumbing equipment is listed below and on the following pages, courtesy of the Air Conditioning Contractors of America:

Qualifying Equipment for Tax Credits
Credits Limited to 30% of Installed Costs (up to $1,500) in the tax years 2009 and 2010.

Electric Air Source Heat Pumps
Split Heat Pumps

Geothermal Heat Pump
30% of total installation eligble, no dollar cap*)
*solar electric, solar hot water, and wind also eligible

Gas, Oil or Propane Water Heaters

Electric Heat Pump Hot Water Heater

75% Thermal Efficiency as measured
using a lower heating value.

Advanced Main Air Circulating Fan (ECMs)
No more than 2% of furnace total energy use