I have always felt there are very few occasions in life when one receives something for nothing. I have always been skeptical of rebate offers that claim “up to”, thinking I will never be able to qualify for anything close to the “up to” number advertised.
Well, there is now an opportunity to truly receive the full “up to” amount of a $1500 tax credit to help pay for a new high efficiency furnace or air conditioner and there is nothing special you have to do to qualify.
The 2009 Economic Stimulus package signed into law in late February, 2009 has many provisions aimed at helping the economy get back on its feet and to help the American people get back to work. It is supposed to help restore the confidence of the American consumer and it has many far reaching aspects that seem hard to understand. But the bill has a little talked about provision that I think will help stimulate the country, the average homeowner and the heating & air business.
If you purchase a new air conditioner or furnace in the tax years 2009 and 2010 and you buy a unit that qualifies, the stimulus package calls for the government to reimburse 30% of the cost of your system up to $1500. That seems hard to believe but its true. It does not matter how much you earn or where you live or what brand of system you buy, you can easily earn the whole amount of $1500! All you have to do buy at least a 16 seer air conditioner or a 15 seer heat pump on the cooling side and on the heating side you have to buy a furnace of at least 95% efficiency or greater. You simply agree to buy the best and the most efficient products and the government will pay the difference is cost which will allow you to have lower utility cost, longer warranties, and in some cases, a lower up front cost that the med grade systems. It seems hard to believe, but its true! No strings attached money to help you replace your old inefficient heating and cooling system.
You don’t have to buy both the furnace and the air conditioner, you can buy one or the other and get the $1500. You can buy either the furnace or air conditioner that qualifies and a lower level unit and still get the full amount. The tax credit also pays for installation cost and remedial work needed to upgrade your home’s system. You do have to pay for the new system now and wait for the stimulus rebate at the beginning of the next tax year, but the whole amount of the cost of the system can be easily be put on a 12 months same as cash payment plan that requires no payment for a year and accrues no interest if paid in full in a year. That way you do not to come out of pocket with the upgrade money. It is a deal that can’t be beat!
People have made this stimulus package a discussion of politics and of their like or dislike of the current administration. I feel that is missing the point. This assistance is there to help you install a new heating & cooling system that will save you much more money than a standard unit and you will waste less natural resources. If millions of American’s take advantage of this program, there will be a great positive impact on the economy. This same bill also has provisions for many other energy improvements that you can apply for and you can find the details at www.energystar.gov. I suggest you look at all the different ways you can help yourself reduce your energy consumption and help the overall big picture of our economy.