Homeowners who purchase high-efficiency heating and cooling equipment may benefit from legislation recently signed into law.
Last August, President Bush signed the Energy Policy Act of 2005. The act includes the home- energy efficiency tax credit, which offers homeowners as much as $300 in tax credits with the purchase of qualified high-efficiency heating, cooling and water-heating equipment. The legislation defines the type of equipment and the amount of the credit in this way:
• High-efficiency gas, oil and propane furnaces and boilers: $150
• High-efficiency central air- conditioning units, including air-source and ground-source heat pumps: $300
• High-efficiency fans for heating and cooling systems: $50
• High-efficiency water heaters, including heat-pump water heaters: $300.
Manufacturers and retailers should be able to tell homeowners whether a specific product qualifies for a tax credit. Qualifying efficiencies identified in the bill include:
• Furnaces and boilers: Annual Fuel Use Efficiency (AFUE) of 95 or higher;
• Central air-conditioning units: Seasonal Energy Efficiency...
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