Every year millions of Americans dread the April 15 deadline for filing taxes. After all, what’s fun about filling out complicated forms, paying accountants, and sending our hard-earned money to the IRS? This year, though, Tax Day is a day to celebrate, thanks to a bundle of tax credits and rebates offered by both the federal government and many state governments, such as Maryland, to purchase certain appliances and to improve the energy efficiency of your home or business.
Get paid to install a new HVAC or Geothermal System
Federal and state governments are offering a number of tax credits and rebates in 2010, meaning that you can get paid to improve your home or business. For example, if you are considering installing a new Central Air Conditioning, Furnace, Radiant Heating, or other heating and cooling system, the federal government offers a $1500 tax credit through its EnergyStar program.
Consumers who are interested in installing an HVAC system should also consider a newer green technology called Geothermal heating and cooling. Geothermal systems use underground tubes to cool and heat your home, and save homeowners anywhere from $3000-$5000 a year in energy bills. Currently, a consumer can save anywhere from $5000-$10,000 on the installation of a Geothermal system by taking advantage of tax credits. The state of Maryland will give you a $3000 rebate for installing a Geothermal system, and the sales tax will be waived as well. The federal government will give you a tax credit up to 30% of the cost of that same Geothermal system. All of this means that installing a Geothermal heating and cooling system is more affordable than ever before.
For more information on the tax credits, rebates, and savings offered by the Federal government and Maryland governments, visit our Energy Efficiency page or contact BAIR Necessities at 410-721-4142 or by email.