Tax Credits & Utility Rebates

PLEASE NOTE: The intent of this page is to provide only a summary of promotions, rebates, incentives and tax credits that may be available.  This may not be a complete list.  To understand how these tax credits may apply to your situation, you should consult a tax professional.  For more information on qualifying equipment, please contact Goff HVAC & Solar Energy for a free evaluation.


UTILITY COMPANY REBATES

Cash Rebates On Qualifying High-Efficiency HVAC Systems… Many local utility companies are offering incentives to purchase qualifying Energy Star certified heating and cooling equipment.  This high-efficiency equipment can have a huge effect on your comfort and utility usage.  Most utility company rebates require a minimum efficiency of 15.00 SEER.

Professional installation and certification is required in order to be eligible to receive these rebates. Goff HVAC & Solar Energy will supply homeowners with the necessary paperwork for all companies that we are preregistered with.  These will include the rebate forms, heat load calculations and an AHRI certificate.  Rebates are on a first-come, first-served basis and cannot be guaranteed by Goff HVAC & Solar Energy.

For more information on these rebate offers, call us at 1-800-417-GOFF.


TAX CREDITS

Federal Solar Electric Tax Credit Summary… A taxpayer may claim a credit of 30% of qualified expenditures or a system that serves a dwelling unit located in the United States that is owned and used as a residence by the taxpayer.

Expenditures with respect to the equipment are treated as made when the installation is completed. If the installation is at a new home, the “placed in service” date is the date of occupancy by the homeowner. Expenditures include labor costs for on-site preparation, assembly or original system installation, and for piping or wiring to interconnect a system to the home. If the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year. The excess credit may be carried forward until 2016, but it is unclear whether the unused tax credit can be carried forward after then. The maximum allowable credit, equipment requirements and other details vary by technology, as outlined below.

Established by The Energy Policy Act of 2005, the federal tax credit for residential energy property initially applied to solar-electric systems, solar water heating systems and fuel cells. The Energy Improvement and Extension Act of 2008 extended the tax credit to small wind-energy systems and geothermal heat pumps, effective January 1, 2008. Other key revisions included an eight-year extension of the credit to December 31, 2016; the ability to take the credit against the alternative minimum tax; and the removal of the $2,000 credit limit for solar-electric systems beginning in 2009. The credit was further enhanced in February 2009 by The American Recovery and Reinvestment Act of 2009, which removed the maximum credit amount for all eligible technologies (except fuel cells) placed in service after 2008.

There is no maximum credit for systems placed in service after 2008; Systems must be placed in service on or after January 1, 2006, and on or before December 31, 2016; The home served by the system does not have to be the taxpayer’s principal residence. For more information on this offer, call us at 1-800-417-GOFF.


Missouri Solar Property Tax Exemption Summary… In Missouri, solar energy systems not held for resale are exempt from state, local, and county property taxes. As enacted in July 2013, the law does not define solar energy systems.


Missouri Sales Tax Holiday For Energy-Efficient Appliances Summary… The state of Missouri offers consumers a seven-day exemption from state sales taxes on certain ENERGY STAR certified new appliances. The state sales tax holiday, known as the “Show-Me Green Sales Tax Holiday,” applies to ENERGY STAR-certified appliances up to $1,500 per appliance intended for either personal or business use.

The sales tax holiday will last from April 19 – April 25 each year for the following appliances: Clothes washers, Clothes dryers, Water heaters, Trash compactors, Dishwashers, Conventional ovens, ranges, and stoves, Air conditioners, Furnaces, Refrigerators and Freezers.