How to Earn the Residential Energy Efficiency Property Credit in San Antonio in 2020

When it comes to energy-efficient HVAC installation in San Antonio, there’s good news for homeowners at tax time.

The Residential Energy Efficient Property Credit has been lengthened through 2020. This might entitle you to credits for energy-efficient home improvements, like new heating and cooling equipment, water heaters and heat pumps.

What Makes My Purchase Eligible?

To qualify for the reduction, the home should be the taxpayer’s chief home in the U.S.. The enhancement should have a life of five years or more, with the first use originating with you.

What Varieties of Changes are Regarded as High-Efficiency Renovations?

Usually, this tax reduction corresponds with 10% of the expense of the following energy-saving improvements that meet certain ENERGY STAR® guidelines:

 

  • Advanced main air-circulating fans
  • Energy-efficient gas, propane or oil furnaces
  • Energy-efficient gas, propane or oil hot water boilers
  • Energy-efficient heat pumps
  • Energy-efficient water heaters
  • Energy-efficient central air conditioners
  • Insulation
  • Qualified metal and asphalt roofing
  • Certain exterior storm windows, skylights and storm doors
  • Solar/geothermal energy solutions, like solar electricity, solar water heaters and geothermal heat pumps

 

Is There a Limit to How Much I Can Claim?

Yes, there’s a lifetime max credit of $500 per property. This means if you have used this credit in past years, you must reduce any credit you previously claimed.

If you have claimed the top amount, you aren’t eligible for any other reductions through this continuation.

Credit Maximums for Particular Items

Incentives are restricted for a few qualified solutions:


  • Windows and skylights—$200
  • Advanced main air circulation—$50
  • Hot water boilers—$150
  • Energy-efficient systems—$300

If you have questions about how you can benefit from the extension of the residential energy efficient property tax credit, download Form 5695 or contact your tax advisor for assistance.

Enhance Your Heating and Cooling Units Today

Been procrastinating upgrading your heating and cooling units? Call the Experts at 210-570-9705 or contact us online. We can help you select an energy-efficient system you can reap tax benefits from the following year.