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There hasn’t been a better time to invest in energy saving water heater or furnace for your home because replacing these old appliances with energy efficient equipment will save you now and in the future on energy bills. Beyond Missouri Gas Energy rebates, there are Federal Tax Credits but the tax credits are going away December 31, 2010. If you are replacing a furnace, you should also check with your electric utility to see a rebate is offered on an energy efficient air conditioner.
Federal Tax Credits
You may be entitled to tax credits by meeting certain qualifications. The passage of the Emergency Economic Stabilization Act of 2008 and the American Recovery and Reinvestment Act of 2009 has brought changes to the energy efficiency tax credits available. A detailed and updated list of these tax credits can be found at ENERGY STAR’s Federal Tax Credits for Energy Efficiency. See matrix below for an overview of natural gas systems. These credits are only established through 2010.
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SUMMARY OF FEDERAL TAX CREDITS FOR HOME OWNERS |
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PRODUCT |
PRODUCT TYPE |
SPECIFICATIONS |
TAX CREDIT |
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HVAC ¹ |
Natural Gas Furnace |
AFUE >= 95 |
30% of cost,
up to $1500 |
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HVAC ¹ |
Natural Gas Boiler |
AFUE >= 90 |
30% of cost,
up to $1500 |
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Water Heater ² |
Natural Gas Tankless |
EF >= 0.82 or a thermal efficiency
of at least 90% |
30% of cost,
up to $1500 |
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Subject to a $1,500 maximum per homeowner for all improvements combined.
1.) Note that not all HVAC ENERGY STAR products will qualify for the tax credit.
Additional info at Energy Star FAQs home heating... Learn More
2.) Additional info at Energy Star FAQs on water heating... Learn More
Glossary of Terms
- AFUE: means Annual Fuel Utilization Efficiency, a measure of a gas furnace's efficiency in converting fuel to energy - the higher the rating the more efficient use of fuel, i.e. 90% means 90% of the fuel use offers warmth for your home and 10% is wasted and escapes with the exhaust.
- Energy Factor (EF): Energy Factor is the ratio of useful energy output from the water heater to the total amount of energy delivered to the water heater. The higher the EF is, the more efficient the water heater.
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