@bohueilin wrote:
What about Energy Credit for Furnace?
I am wondering whats the requirements for 2023?
Reference: https://www.carrier.com/residential/en/us/homeowner-resources/federal-tax-credits/#:~:text=Tax%20Sec....
Where 2023 stated that the requirement: ≥97% AFUE
Does anyone know if a furnace of: ≥96.5% is eligible for 2023 Tax Reason?? (up to Tax Credit Amount: $600)
The old law, put in place in 2009, said the efficiency standard was the "top tier" as defined by the CEE in 2009.
The revised law, which takes effect 1/1/23, says the efficiency standard is the "top tier" (not counting any "advanced tier") as defined by the CEE as of January 1 of the tax year in which the property is installed. So for 2023, you need the 2023 CEE standard. For 2024, you would use the most recent CEE standard (2023 if they did not update it again, 2024 if they did update it) and so on.
CEE is here.
https://cee1.org/content/cee-tiers-and-energy-star
https://cee1.org/index.php/content/cee-program-resources
For a residential forced air gas furnace, the top tier in 2023 (not counting the advanced tier) is tier 3, which is ≥97%. So 96.5% will not be eligible if installed in 2023. It would be eligible if installed in 2022, because 96.5% was in the top tier in 2009.
