While the rest of us were riveted to the NFL playoffs over the weekend, the intrepid Hill-watchers of the Air Conditioning Contractors of America rounded up some information that will be very important for homeowners who either replaced their HVAC equipment in 2012 or are considering a replacement in 2013.
First, for the already-replaced camp: good news! The Fiscal Cliff deal included a reinstatement of the Energy Credit for homeowners who installed high-efficiency equipment in 2012. However, because the deal was reached past its original deadline, the IRS will need more time to update their systems to accept this credit. Homeowners will not be able to file the appropriate form on the official start date of 2012 taxes (January 30th), but will have to wait for this update to be complete, expected happen in late February or early March. There will also be a delay in the release of updated materials that can help homeowners determine whether their new equipment qualifies for the credit. We will continue to update our customers on the general progress of this update as we receive more information, and of course will be happy to help homeowners who purchased their systems from Oliver determine eligibility as the qualifications are released.
Next, for the thinking-about-replacing camp: pending good news! As of late Friday, the 11th, the US EPA has agreed to withdraw the pending minimum efficiency standards that were set to go into effect on May 1, 2013. These standards would have required all installed furnaces to be rated at 90% efficiency or higher. As we’ve said before, we are all for high-efficiency units that save customers energy and money, but we also know that they are not the best solution for every home and situation. If this settlement is accepted by the Court, non-condensing furnaces will remain legal to install in all states until further notice. Keep an eye on our regional standards page for updates on this settlement.
Thanks again to ACCA for being on top of these stories! What are your thoughts on these developments? Share them in the comments!