Colonial Heating and Cooling 734-455-6500 Plymouth MI

Trane Energy Tax Credit Summary

The 2011 Energy Tax Credit and You
With the passage of President Obama’s Economic Stimulus Bill, homeowners may be eligible for a tax credit if they purchase certain types of heating, ventilation and air conditioning (HVAC) systems, water heating equipment, or make other energy-related improvements to their homes between now and December 31, 2011.

As a leader in enabling homeowners to take control of their own energy management, Trane already offers systems that may help you save up to 60 percent on your energy bill.1 To add to that savings, Trane offers many products that are eligible under this new energy tax credit law. Depending on the type of system or product purchased, it is possible to qualify for a tax credit of up to $500 on your 2011 income tax return. Read on to learn how the government’s new tax credit program works, which Trane products qualify, and how to apply for a tax credit.

2010 energy tax credit Colonial Heating and Cooling Plymouth, Waterford MI

How did the tax credit come about?
President Obama signed the American Recovery and Reinvestment Act (also known as the Economic Stimulus Bill) into law. This legislation combines spending and tax incentives designed to get the American economy moving again by investing in our nation’s roads and energy infrastructure, and by providing incentives for increasing the efficiency and performance of America’s homes and commercial buildings.

Which products are eligible?
Some — but not all — of Trane’s products may qualify for the tax credit. Contact us to find specific products that qualify. As a "Trane Comfort Specialist Dealer" we can help you determine product model numbers if necessary.

How do I apply for a tax credit?
For qualified improvements, homeowners may be able to claim tax credits equal to 10 percent of the installed costs (up to $500). The new tax credits expire on December 31, 2011. The $500 limit is for all improvements made during this year.

The tax credit applies as a direct reduction of taxes owed. In the past, IRS has directed taxpayers to use Form 5695 (the Residential Energy Efficient Property Credit). It is expected that the IRS will produce new rules related to the recently enacted stimulus legislation, giving taxpayers further guidance on claiming tax credits. To fully understand how the new tax credit may apply to you and what you can do to obtain one, you should consult with a tax professional for advice on tax preparation, as this tax credit is subject to IRS regulations.

How do I learn more about Trane’s energy efficient products?
Trane is committed to providing your family with a system that is tailored to your specific needs. Find out more information about Trane matched systems that are designed to give you the best performance for your heating and cooling dollars contacting Colonial Heating and Cooling Trane dealer.

1 Potential energy reduction comparing an 8-SEER system to a 20-SEER system. Actual energy savings vary based on lifestyle, system settings, maintenance, climate and installation

Utility rebate programs are back!
Saving money on new, energy-efficient equipment has never been easier.
Rebates are available for equipment installations on or after November 1, 2010
and range from $100.00 to $750.00 depending on the system!
Contact our office for more details and eligibility.

We are fully licensed and insured, and offer warranties for all services provided.

We work hard to finish each project on time and to make sure our customers are fully satisfied.