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About Tax Credits

A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. Consumers can itemize purchases on their federal income tax form, which will lower the total amount of tax they owe the government.

Mid American Energy Advantage Rebate

Mid American Energy makes it easier for Illinois customers to enjoy long-term savings on energy bills and increased comfort through rebates for new heating, cooling and water heating equipment.

LP Gas Rebate

Check with the Illinois Propane Gas Association to see if they currently offer a rebate (make rebate a link out to www.ilpga.org/il-safe-appliance-rebate/) Rebates are usually available on furnace, fireplace, shop heater, water heater and tankless water heater.

Tax Credit Efficiency Requirements

The new law changes the HVAC tax credit efficiency requirements for Split System Air Conditioners, Split System Heat Pumps, Packaged Heat Pumps and GeoThermal Heat Pumps.. Refer to summary table below.

Tax Credit Efficiency Requirements

Product Minimum Requirements
Split-system Air Conditioner 16 SEER & 13 EER
Split-system Electric Heat Pump 15 SEER, 12.5 EER & 8.5 HSPF
Packaged Air Conditioner 14 SEER & 12 EER
Packaged Electric Heat Pump 14 SEER, 12 EER & 8 HSPF
Gas Furnace 95% AFUE
Advanced Main Air Circulating Fan ≤ 2% of furnace total energy usage
GeoThermal Heat Pumps Varies

New Tax Credits At-a-Glance

NOTE: No guarantees are given or implied as to the eligibility of an individual to receive a tax credit under this program or how such credit would apply. Please consult a tax professional to determine your eligibility for and application of the credit(s).

How to Claim Tax Credit: Specific information on how to claim the tax credit should be obtained directly from the U.S. Internal Revenue Service. Manufacturer's Certification Statements are provided for your records and to support your Tax Credit claims for these systems. Have your installing contractor circle or highlight the system installed in the home.
Do all ENERGY STAR® products qualify? No, not all. The minimum efficiencies for this new tax credit are higher than the minimum requirements to qualify for the ENERGY STAR designation. Some ENERGY STAR equipment meets tax credit minimums; some does not. Check the manufacturer's certification statement carefully to be sure.

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