The residential consumers who utilize energy efficient products like air conditioning and heating systems that use less energy not only save on energy bills all year long but also are eligible for tax credit at the end of the year.
The 2009 and 2010 energy efficiency tax credits are different from the tax credits that are available for 2011. You are eligible to claim credit on your 2010 tax return using the 2010 principle if you purchased your energy efficiency product in 2010 but new credit values apply for the 2011 home energy efficiency improvements.
The criteria for heating and cooling equipment in 2009 and 2010 required to meet specified measures of energy efficiency in order to apply for tax credit. The requirements for Central AC and Heating in 2009 were to meet the highest efficiency tier which was between SEER 15 and EER 12.5 and in 2010 it went up to SEER 16 and an EER of at least 13. With these requirements you could get up to $1500 for installing new heating and cooling equipment, roof, doors and windows. The tax credit amount for 2009 and 2010 is 30 percent which includes the cost of the heating and cooling equipment and installation costs as well.
In 2011 some changes have been made for the energy-efficient home improvement tax credit. Different types of energy efficiency improvements will have different credit values for 2011 claims. The tax credit amount will be 10 percent now and does not include the labor costs. There is a limit for heating and cooling equipment. There is also a cap on the credit amount for the years between 2006 and 2011. The limit to receive the tax credit between these years is $500. If you have claimed for a credit between these years and received less than $500 back that amount will be deducted from your 2011 tax credit and you will receive the remains.