Rebates and Tax Credits

Rebates

Rebates vary by electric provider, but are between $150 to $400 per ton of capacity, up to a specified tonnage.  Each rebate program is different.

SB Mechanical and Geothermal, Inc. will provide you with a rebate form for your heat pump upon completion of the installation.  It is the homeowner’s responsibility to submit the paperwork to the utility provider.

 

Federal Tax Credit

Residential Energy Efficient Property Credit

  • This tax credit is 30 percent of the cost of alternative energy equipment installed on or in your home.
  • Qualified equipment includes solar hot water heaters, solar electric equipment, wind turbines and fuel cell property.
  • There is no dollar limit on the credit for most types of property. If your credit is more than the tax you owe, you can carry forward the unused portion of this credit to next year’s tax return.
  • The home must be in the U.S. It does not have to be your main home, unless the alternative energy equipment is qualified fuel cell property.
  • This credit is available through 2016.
  • 2015 IRS Form 5695
  • Instructions for 2015 IRS Form 5695