Federal Tax Credits
Geothermal Renewable Federal Tax Credit through 2016 (IRS Form 5695)
- 30% credit of Total System Cost including Loop
- No limits or caps with Qualified Equipment
- 14.1 EER and 3.3 COP Efficiency on Closed Loop Systems
- 16.2 EER and 3.6 COP Efficiency on Open Loop Systems
- Credit can be used in more than 1 year
- Can be combined with Solar and Wind Tax Credits
- Can be combined with Energy Efficiency Upgrade Credits
Conventional Gas Forced Air Furnace Tax Credit through 2011
- 95% AFUE Furnace
- Package System 14 SEER, 12 EER
- 10% Credit Up to $150 Maximuml
- Variable Speed Energy Efficient Fan – $50
Air Conditioning Units Tax Credit through 2011
- Split System Efficiency 16 SEER and 13 EER (Both to qualify)
- 10% Credit Up to $300 Maximum
Air Source Heat Pumps Tax Credit through 2011
- Split Systems 15 SEER, 12.5 EER, and 8.5 HSPF Efficiency
- Package System 14 SEER, 12 EER, and 8 HSPF Efficiency
- 10% Credit Up to $300 Maximum
Hot Water Boilers - Gas and Oil Tax Credit through 2011
- 95% AFUE Efficiency
- 10% Credit Up to $150 Maximum
Indiana Heating and Air-Conditioning Incentive Rebate (while funds are available)
- Gas Furnace - 92% AFUE or greater $300
- Gas Boiler - Energy Star Qualified, 85% AFUE or greater $500
- Air Conditioning - Energy Star Qualified, 14.5 SEER or greater $150
- Air Source Heat Pump - Energy Star Qualified, 14.5 SEER, 8.2 HSPF $500
- Ground Source Geothermal Heat Pump - Energy Star Qualified, 3.3 COP on Closed Loop $1,000
NIPSCO Energy Harvest Rebate (while funds are available)
- Natural Gas Furnace - 92% AFUE or greater $250 (Dual Fuel Systems are NOT Eligible)
- Natural Gas Boiler - 90% AFUE or greater $500 (primary use must be for space heating)
$750 (Indirect Water Tank combo with Natural Gas Boiler - Programmable Thermostat - Energy Star Qualified $20