For full information on all federal tax credits, visit energystar.gov. Could you use an extra $300? You might be eligible to receive a federal tax credit if you purchased a high-efficiency air conditioner or heat pump last year, or if you purchase one in 2016. The Residential Energy Efficiency Tax Credit originally came about in 2011, and expired in December, 2014. However, this federal tax credit has now been renewed. It now covers purchases of qualifying new HVAC equipment made before December 31st, 2016. Plus, good news – it also retroactively applies to purchases of air conditioners and heat pumps made starting January 1, 2015. Air conditioners will receive a tax credit of $300, and must meet the following criteria: Search here to see if your air conditioner qualifies. Heat Pumps will also receive a tax credit of $300, and must meet the following criteria: You can search here to see if your heat pump qualifies. For more information about qualifying Trane products, click here.

For more information about qualifying Lennox products, click here. The federal tax credit only applies to existing homes, not new construction. The home must also be your primary residence – no secondary residences or rentals. You can only claim up to a total credit of $500 for all of the years (2011-2016) combined. If you’ve already claimed $500 in tax credits, you won’t be eligible to claim any more credits. File IRS Form 5695 with your tax return. You can download the form here. The credit amounts you may receive are subject to IRS regulations, so we recommend consulting a tax professional for advice on tax preparation. Even if you didn’t upgrade your heating & cooling system, you might have purchased another qualifying household appliance like a Hybrid Heat Pump Water Heater. Check the entire list of qualifying appliances.. Geothermal heat pumps are considered the most energy efficient heat pumps, because they use the earth’s natural heat from the ground instead of heat from the outside air.

If you purchase a new Geothermal Heat Pump between January 1, 2011 and December 31, 2016, you’ll receive a Federal Tax Credit for , with no limit, including installation costs. Existing homes, new construction, principle residences and second residences qualify for the tax credit, but rentals do not qualify. The geothermal heat pump must meet the ENERGY STAR® program requirements at the time of its purchase. To learn more about the requirements for geothermal heat pumps, and see if your system qualifies, click here. Click here to find out which Trane Geothermal heat pumps are eligible for a federal tax credit. File IRS Form 5695 to receive the credit. The credit amounts you may receive are subject to IRS regulations, so we recommend consulting a tax professional for advice on tax preparation.What makes a product ENERGY STAR? ENERGY STAR® products are the same or better than standard products, but they use less energy. To earn the ENERGY STAR, they must meet strict efficiency criteria set by the US Environmental Protection Agency or the US Department of Energy.

Since the products use less energy, they save you money on your energy bill and help protect the environment by causing fewer harmful emissions from power plants. What types of products qualify for the ENERGY STAR label? Nearly all products that use gas or electricity can qualify, including lighting products, heating and air conditioning, computers, office equipment, and refrigerators. rain on ac unitFor a complete listing of products, visit the ENERGY STAR website at energystar.gov.ac unit for vertical window Where can I find information on federal tax credits for energy efficiency improvements?ac unit recycling This website, energystar.gov/taxcredits will help you to learn what equipment may be eligible for federal tax credits.  Be sure to also consult your tax advisor.

Does New Jersey's Clean Energy Program provide rebates for the installation of new windows or insulation? Currently there are no rebates offered for the purchase and installation of new windows or insulation. However, New Jersey's Clean Energy Program offers Home Performance with ENERGY STAR, a program that assesses a home's overall performance and energy efficiency looking specifically at improvements to insulation, duct sealing, heating and cooling systems, windows, doors, and appliances.  Additionally, there are federal tax credits available. We also encourage you to install ENERGY STAR rated windows to maximize your energy savings. How can I do an energy audit of my home? You can start with an online home energy analysis offered by your local utility to find out how you can begin reducing your energy use and saving money. Also, learn how you can save up to 30% on your energy bills by having a certified technician evaluate your home through the Home Performance with ENERGY STAR program.

Do you have a contractor list for air conditioning or furnace installations?A listing of HVAC contractors can be found in the Trade Ally Database. Are there incentives for businesses in New Jersey to use less energy?New Jersey's Clean Energy Program offers rebates and free benchmarking assistance to commercial and industrial customers, as well as to schools and municipalities that want to reduce their energy costs. From simple lighting upgrades to complete retrofits, the NJ SmartStart Buildings Program and ENERGY STAR combine to help small and large users reduce their energy consumption. What incentives are available for new construction in New Jersey? The Program provides incentives for energy efficiency upgrades for both new homes and commercial buildings being newly constructed. How should I recycle a compact fluorescent bulb (CFL)?There are also some retailers (such as Home Depot) who are collecting CFLs at stores as part of their recycling program.