Federal Tax Credits: Retroactive for 2014

On December 19, 2014 H.R. 5771, The Tax Increase Prevention Act of 2014 was signed into law and extends through 2014, the tax credit for residential energy efficiency improvements. This includes purchases of heating, cooling and water heating equipment made in 2014.

Geothermal system tax credits and solar water heaters are unaffected by these changes and remain in place through 12/31/2016.

Note: State, Local and Utility rebates may still be available in your respective markets for residential energy products installed in 2012. Please visit the "Homeowner Resource Center" for a list of energy efficiency tax credits by State.


Here's what you need to know about these tax credits:

What equipment qualifies for the credit?

High-efficiency water heaters, furnaces, boilers, heat pumps, central air conditioners, building insulation, windows, roofs, biomass stoves, and circulating fans used in qualifying gas furnaces.

When does the tax credit expire?

This tax credit expired at the end of 2013, however The Tax Increase Prevention Act of 2014 retroactively renewed this tax credit effective January 1, 2014, expiring again on December 31, 2014.

What’s the maximum amount that a homeowner can receive in tax credits?

The maximum amount an eligible homeowner may receive in tax credits for improvements is $500. If you have already claimed credits of $500 or more from improvements made in 2011 or any year prior, you are ineligible to claim new credits for any new improvements made during 2012, 2013, or 2014.

Can these tax credits be applied to energy-efficient equipment purchased for a second home?

In order for purchases of high-efficiency heating, cooling and water heating equipment to be eligible for this tax credit, the equipment must be installed in a primary residence that is owned and used by the taxpayer 

What do I need to do to take advantage of this tax credit?

Your local contractor who installs the equipment can help make sure that you have the right documentation needed to claim the tax credit. You can also download the proper IRS form here.

Where can I find out more information about these tax credits?

DSIRE, the Database of State Incentives for Renewables & Efficiency, has more information here.

Geothermal system tax credits and solar water heaters are unaffected by these changes and remain in place through 12/31/2016.

Note: State, Local and Utility rebates may still be available in your respective markets for residential energy products installed in 2012. Please visit the "Homeowner Resource Center" for a list of energy efficiency tax credits by State.

 

RHEEM HEATING AND COOLING MODELS


IMPORTANT: Review a specific model’s tax credit form for a complete listing of model capacities and system combinations that qualify.
You will be able to find the tax documents on the product pages linked below.

RGTM Series RGFE Series RQPW-B Series
RASL-JEC Series RASL-JEZ Series RPQL Series
RARL-JEC Series RPRL-JEZ
RAPM Series
RPRL-JEC Series RARL-JEZ Series RSPM Series
RGRM Series RPQL-JEZ Series RJPL Series
RRRL-B Series RAPM-JEZ Series RQPM Series
RGLR Series RAPL-JEZ Series RQPL Series
RGPR Series RPNL-JEZ Series RRPL-B Series
RGRL Series RGJD Series RSPL Series
RGFD Series RGGD Series RLPL Series
RRNL-B Series RPNL Series RAPL Series
RRNA Series RKPL Series RGTC Series
14PJM Series 14AJM Series R95P Series
RGRC Series RGGE Series R95T Series
RGLE Series RGPE Series R96P Series
RGFG Series 15PJL Series R96V Series
RQRM Series RGJF Series