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What Is the Federal Tax Credit for Air Conditioners in 2023?
Air conditioners are an important part of modern life, so it can be stressful when yours isn’t working effectively. It can be expensive and overwhelming when it’s time to replace your cooling system. But this year, there’s good news! Not only are there excellent, energy-efficient air conditioners available but there’s also a federal tax credit for 2023.
2023 Inflation Reduction Act
As of Jan. 1, 2023, new federal tax credits are available as a part of the Inflation Reduction Act, which covers a variety of residential energy efficiency improvements. This includes air conditioners, heat pumps, water heaters, doors, windows, insulation, and more.
Air Conditioner Tax Credit Details
Under the legislation, you can receive a tax credit of 30% off the installation cost of an eligible central air conditioner for a maximum credit of $600. To be eligible, the replacement air conditioner must meet the following criteria:
- Split systems must be ENERGY STAR® certified with a SEER2 rating greater than or equal to 16.
- Packaged systems must be ENERGY STAR-certified equipment with a SEER2 rating greater than or equal to 15.2 or an EER2 rating greater than or equal to 11.5. This includes gas/electric packaged units.
- The air conditioner must be purchased and installed between Jan. 1, 2023, and Dec. 31, 2023.
We recommend consulting with your tax professional to verify that you meet all the tax credit requirements.
How To Apply
To claim this tax credit, you’ll need to complete the appropriate form with your 2023 tax return when it becomes available. It’s important to note that you can only receive this tax credit, assuming you owe taxes. If you do not owe any tax, you won’t receive the credit as a refund.
Choose Air America
Air America is here for all your cooling needs, including air conditioning repair, replacement, installation, and maintenance. We can help you determine whether it’s time to replace your air conditioner and, if so, which unit is right for your needs, home, and budget.
When you choose our team, you can expect:
- Customer-focused services
- Experienced staff
- Wide variety of products
- High-quality installations
- 24/7 emergency services
Schedule your air conditioning services with Air America by calling 954-255-0384 today.
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