Discover How the Government’s Decision to Stop the Rebates on Air Conditioner Affects You
Unfortunately, the federal tax credit law has expired on December 31, 2011. This Air Conditioner Rebate program was approved by president Obama on Dec 17, 2010. The law that he signed was referring to a substantial rebate for everybody who would buy an air conditioner last year. The tax break was around $300 and it was dependable on efficiency rating of the purchased ac unit. Since January 1, 2012, these modern air conditioners are not eligible anymore for tax rebates, so you won’t be able to save so much money as you did before.
This program was of a tremendous success in the last couple of years, because it inspired consumers to throw away their old air conditioners, washers and refrigerator and buy newer and more efficient appliances at a reduced price. $296 million were allocated to all the states and other U.S. territories for this national rebate program. The statistics showed that only California alone got $35.2 million.
The outcome of this unique and extremely beneficial rebate program is that the demand for appliances, including air conditioners, has increased by more than 30% in just two years. However, since January, the demand for air conditioners has decreased by over 15%. The exceptions from this rule are solar water heaters and geothermal systems, since they are unaffected by these changes. This is probably the only good news regarding the rebate on air conditioners.
Another positive news is that, in a few states, there are some local and utility rebates still available. For example, in Colorado, there are several huge programs that encourage homeowners to purchase energy-efficient products, including air conditioners. The return is typically between $50 and $200. You can find various Energy Star sponsors which offered and still offer special rebates that weren’t part of Obama’s federal rebate law. Try to discover the best incentives and rebates available in your state in order to fully benefit of this ongoing trend.