Save some energy and save some money with the 2012 Energy Star tax credits for Geothermal Heat Pumps, available through J&W Heating and Air.
The majority of Energy Star tax credits enjoyed by consumers in 2011 and before have been eliminated as of January 1, 2012. The Geothermal Heat Pump tax credit offers a credit of 30% of the cost – excluding installation costs – with no upper limit.
The only other Energy Star tax credits for 2012 include solar power and wind turbine power. The difference between a tax deduction and a tax credit is with a tax deduction you deduct the amount of the cost from your gross income, along with other deductions, to arrive at your net income which is then taxed. A tax credit allows you to deduct the amount of the tax credit directly from the taxes due on your net income, explicitly lowering the amount of tax due, not the amount of income on which you are taxed. Tax credits for most people are usually highly favored over tax deductions.
To qualify for the tax credit, your new Geothermal Heat Pump must be installed in a home you own and use as either a primary or secondary residence. This includes where you live, and any second home you may have such as a beach home or a vacation home in the mountains. The tax credit does not apply to units you install in any rental properties you may own.
Geothermal Heat Pumps re among the most efficient and comfortable heating and cooling technologies currently available because they use the earth’s natural heat to provide heating, cooling, and often, water heating.
Geothermal Heat Pumps which qualify for the Energy Star rating are over 45% more efficient than standard heating and cooling options and less expensive to operate. Typically, installing any Energy Star rated heating and cooling equipment can save homeowners more than $200 a year on energy bills.
Family owned J&W Heating and Air offers a complete line of residential and commercial heating and cooling systems, and has been in business in Jacksonville for over 40 years. The company
offers each customer work by factory trained, certified technicians, planned maintenance agreements, extended service agreements, extended warranties on new equipment, free in-home estimates, competitive rates, financing plans, plus 24-hour live response for emergencies.