Geothermal Tax Credits | Cooling Season Checklist
Indoor Air Quality
Geothermal Tax Credits
An exciting new tax credit is now available for home and commercial building owners who install geothermal heating and cooling systems through the Energy Improvement and Extension Act of 2008 (H.R. 1424). H.R. 1424 offers a onetime tax credit of 30% of the total investment for homeowners who install residential ground loop or ground water geothermal heat pumps.. A credit of 10% of the total investment is also available (no maximum) for a commercial system installation.
To qualify, the systems must meet or exceed EnergyStar requirements and be installed after December 31, 2007. While units installed in 2008 are subject to a $2,000 cap on the credit, units installed from 2009 through 2016 can take advantage of the full credit. Owners can file for the credit by completing the Renewable Energy Credits subsection on their tax return forms for 2008. For taxpayers that are subject to the Alternative Minimum Tax, they can claim the credit on their taxes for the following year. No proof of purchase will be required; however, in case of an audit, owners are encouraged to keep a detailed invoice of their purchase on file. The contractor who sold and installed the product should list the purchase as a "Geothermal Heat Pump" on the invoice and that it "Exceeds requirements of Energy Star program currently in effect".
The tax credit is available through December 31, 2016. Consult your local tax professional for advice on taking advantage of the tax credit, as this announcement is not intended as a recommendation or endorsement of any financial strategy.
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Cooling Season Checklist
Warm weather is approaching, and that usually means more time spent outdoors. But, when it gets too warm you'll most likely want to retreat to the comfort and relief of your home. Here's a checklist on a few tips to help you keep your cool this spring and summer.
- Maintain your air conditioning system. Have a qualified professional inspect your home's cooling equipment and ducts. Regular checkups are important. When your air conditioning system is inspected, cleaned and adjusted annually, it will operate properly at peak efficiency and save you aggravation and money.
- Clean or replace your filters regularly. Clean and vacuum vents, registers and any ductwork that you can easily get to. Dirt is the number one cause of poor performance, equipment failure and unnecessary service calls.
- Program your temperatures. Use a programmable thermostat to automatically adjust temperatures for different time periods. This helps you stay comfortable while you're active in the home, but saves you money and conserves energy while you're away or asleep.
- Check your attic for proper insulation and ventilation. The U.S. Department of Energy suggests a value between R-22 and R-49. It's much less expensive to upgrade your insulation or add proper venting than to operate equipment more often than needed.
- Keep shades, blinds or curtains drawn on the sunny side of the house, especially during early and mid-afternoon.
- Open some windows. In our region it usually gets quite cool in the evenings and overnight. If you feel safe leaving a window open, remember to close it before things begin to heat up again.
- Upgrade to an energy efficient system. If your central air conditioning is 15 years or older, replace it with more efficient equipment. In some cases, you could cut your cooling costs in half by installing a new system. You may also qualify for low interest energy loans or a federal tax credit.
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Indoor Air Quality
Cold weather is approaching, and that means more time spent indoors. Most people spend 90 percent of their time indoors, and 50 percent of all illnesses are either caused by or aggravated by poor indoor air quality (IAQ).
Indoor air pollutants can be the cause of numerous health-related problems. They can cause you to suffer from flu-like symptoms such as headaches, nausea, and respiratory irritation. They can also exacerbate existing illnesses such as allergies and asthma.
Frequent dusting and vacuuming may reduce the amount of dust and dust mites present in your home or business. Filtration devices are needed to eliminate particles that are too small to be captured by a vacuum. These devices include air filters, media filters, and electronic air cleaners. The efficiency of the filtration device should be a top consideration. The higher the efficiency, the more effective it will be in removing airborne particles.
Germicidal lights are effective in killing viruses, mildew, and other harmful molds and microbes in ducts and coils.
If you suspect that you suffer from symptoms related to poor IAQ you can easily have your home or business tested for indoor air pollutants and other conditions that may exist. Nearly all situations can be substantially improved with proper treatment. Enjoy the great indoors again.
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 June 28, 2007
"I want you to know how pleased I am with the exceptional job Gary and Glen did in the performance of the job they did for me. Their workmanship was of the best quality. I would recommend Knisely's to anyone." —
John Walters, Jr., Biglerville, PA |
Call Knisely & Sons today to schedule an appointment.
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