IRS CREDITS ARE AVAILABLE 

Under current law, homeowners can claim up to $500 in lifetime cumulative credits for installing qualified appliances, such as furnaces, air conditioners, heat pumps, hot water heaters, and more. However, the credits are limited by appliance and don't really give homeowners an adequate reduced payback period. For example a 95% AFUE gas, oil, or propane furnace or boiler is eligible for only $150 in credits, and a 15 SEER air conditioner is worth $300.

The proposed stimulus bill raises the total amount homeowner can claim in the two year period of 2009 and 2010 to $1500, while replacing the per appliance dollar limits with a 30% allowance on the installed costs. At the same time, the stimulus bill would remove the lifetime cap, so that Congress could come back and authorize another $1500 in credits for 2011 and beyond.

FOR DETAILED INFORMATION VISIT:

http://www.energystar.gov/index.cfm?c=products.pr_tax_credits