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2014 Heating & Cooling Tax Credits & Rebates

 

Over the last 5 years there have been a number of hvac (heating & cooling) incentives in the form of tax credits & rebates.  These incentives have changed annually if not more frequently.  As of today (February 2014) - we now have a solid grasp of what's available to you for new heating & cooling equipment purchases in Oregon.

save money sign

We'll keep this blog relatively simple and straight forward but here is a little teaser for our favorite product, Carrier's Greenspeed Heat Pump:

Example 3 ton Greenspeed heat pump system (includes all equipment, venting, ductwork, gas lines reconnections, condensate drain, thermostat, electrical, permits & labor!) 

$15,000

Initial Homeowner Investment

-$1,500

OR State Tax Credit

-$650

Energy Trust Rebate

-$200

PGE Instant Rebate

-$1,400

Cool Cash Rebate

$11,250

Net Cost to Homeowner

 That’s a total of savings of $3,750 or 25% of the total system cost!!!


 

 

 

Oregon Department of Energy Tax Credit

Tax credits, unlike deductions, are subtracted directly from your personal income tax liability. For example, if you complete your tax return and calculate that your tax liability is $2,000, a tax credit of $500 may reduce your tax liability to only $1,500. Be sure to check with your tax advisor to determine eligibility for and how to best take advantage of the tax credits.

Oregon has various tax credits for new heating & cooling systems that include high efficiency gas furnaces, heat pump systems & ductless heat pumps.

Click here to read a complete article on the various tiers, efficiency requirements and qualification standards.

Energy Trust of Oregon RebatesEnergy Trust of Oregon Trade Ally

These rebates are funded through the cooperative efforts of PGE and NW Natural.  Rebates are submitted by forms and arrive to you in the form of a check within 4-6 weeks of submittal.  The new equipment must be installed by a registrated Trade Ally of the Energy Trust.

Current 2014 rebates are:

  • Air Source Heat Pump Systems: $400 - $850
  • Ductless Heat Pump Systems: $800

Each class of rebates is based on existing heating systems and minimum energy efficiency requirements.

pge approved heat pump contractor

PGE Heat Pump Instant Rebate

PGE Approved Contractors may offer a $200 Instant Rebate for any new or replacement heat pump installation.  Be sure to ask your contractor if they are on the PGE Approved Contractor list and whether they will honor this rebate.

 

Cool Cash Rebate

Cool Cash is a manufacturer rebate typically offered seasonally throughout the year.  Available rebates range from $50 - $1,400 based on the equipment mix selected.  Higher efficiency (higher cost) equipment qualifies for higher rebates.  

Installation, claim forms & invoices must be submitted in a timely manner to take advantage of these fantastic rebates.

How Specialty Heating & Cooling Helps You . . .specialty heating & cooling

We have a dedicated Installation Coordinator who submits all paperwork on your behalf.  Our Sales Professionals have all the necessary forms for you to claim as many and as much incentives as possible.  You might call them "Incentive Specialists" as part of their job is helping you discover the right mix of equipment that not only delivers the best comfort and energy savings but provides the most attractive Net Cost as well.

Interested in learning more?

Just click the button below to fill out a quick form and let us know if you'd like to schedule a FREE in-home consultation.  Our Sales Team is known for their non-pushy, educational approach.  You can also reach us at 503-862-2050.  Thanks for reading!

 

Click Here to Contact Specialty Heating \u0026amp\u003B Cooling

 

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