U.S. Stimulus Package

On Tuesday, February 17, 2009, President Obama signed into law H.R. 1, the American Recovery and Reinvestment Act of 2009 (version 8), which is comprised of two primary parts. Division A is a series of appropriation provisions while Division B is primarily tax and other provisions and includes specific incentives for residential high-efficiency HVAC equipment.

Subtitle B, Energy Incentives, Part III:

• Section 1112: Quadruples limits on qualified energy conservation bonds to $3.2 billion.

• Section 1121 Extension and Modification of Credit for Non-Business Energy Property (for residential replacements only)

• Increases existing residential efficiency credit from $500 to $1,500 for all of 2009 (retroactive) and 2010. Up to 30% of qualified energy efficiency upgrades to a cap of $1,500 to a primary residence is eligible for a credit.
• Eliminates lifetime limit meaning that any of the $500 credits claimed in 2006 or 2007 do not count against the $1,500 credit cap in 2009 and 2010.
• Eliminates product-specific credit caps.

For more information, and for a complete list of qualifying HVAC and pluming equipment: Summary of Energy and Efficiency Credits in H.R. 1