Dec. 31 is Deadline to Qualify for Federal Tax Credits for High-Efficiency Furnace Purchases Laclede Gas Rebates Also Available for Qualifying Equipment; Save On Heating Bills AND Reduce Your Carbon Footprint
ST. LOUIS, Dec. 2, 2010 /PRNewswire/ -- Winter is just around the corner, and so is the December 31, 2010 deadline for consumers to qualify for federal tax credits for purchasing AND installing high-efficiency heating systems. Laclede Gas customers can also benefit from the Company's rebate program if they purchase a high-efficiency gas furnace.
The federal government is providing a tax credit of 30% of the total installed cost of a furnace with an AFUE (annual fuel utilization efficiency) rating of 95% or higher, up to a maximum credit of $1,500 (principal residence only for 2010). For consumers to qualify for the tax credit, the furnace must be "placed in service" by December 31, 2010. The Internal Revenue Service defines "placed in service" as when the property is ready and available for use. It is not when you purchase the product, but the day installation is complete, and you are able to use your new furnace.
Laclede Gas customers who purchase an ENERGY STAR natural gas furnace are also eligible for significant incentives from Laclede. Customers can apply for a $150-$200 rebate from Laclede Gas for purchasing a gas furnace with an AFUE rating of 92% or higher. Rebates are also available under the Laclede Gas Residential High-Efficiency Heating Equipment Rebate Program for the installation of electronic programmable setback thermostats and high-efficiency boilers.
Here's how the savings* may add up for a customer installing a new ENERGY STAR rated gas furnace with an AFUE rating of 96%:
FEDERAL TAX CREDIT:
- $1,050 (30% of purchase price including installation)
LACLEDE GAS REBATE:
- $200 (96% AFUE)
CUSTOMER'S NET COST:
CUSTOMER'S TOTAL SAVINGS:
$1,250 (36% savings)
* The above calculations are for illustration purposes only. Federal tax credit is "non-refundable" and is capped at $1,500 for combined 2009 and 2010 expenditures. Please consult your tax advisor.
Examples of the savings that are possible, along with details on Laclede's rebate programs and the federal tax credit, are available at www.OriginalGreenEnergy.com/rebatesandsavings. You can also call 1-866-542-4352 with questions about the Laclede rebate application.
"ENERGY STAR high-efficiency natural gas furnaces can provide operating cost savings of more than 10% when compared to standard furnaces," said Laclede Utilization Engineering Manager Tom Schultz, a Leadership in Energy and Environmental Design (LEED) Accredited Professional. "Our customers can significantly reduce their carbon footprint and save money on their utility bills. It's a win-win situation for our customers and the environment."
The St. Louis Regional Chapter of the United States Green Building Council (USGBC) recently awarded Laclede Gas the 2010 Growing Green Award in the Home Builder category in recognition of Laclede's groundbreaking residential green-building verification program partnership with the HBA of St. Louis and Eastern Missouri that encourages home builders to implement energy-efficient, environmentally friendly building practices in their new-home construction.
A subsidiary of The Laclede Group (NYSE: LG), Laclede Gas Company has provided safe and reliable service to the residents of the St. Louis metropolitan area for more than 150 years. It is the largest gas distribution company in Missouri, serving nearly 630,000 natural gas customers in St. Louis and surrounding counties in Eastern Missouri. For energy-efficiency ideas, information on rebate and savings programs, and to find local natural gas appliance retailers, please visit www.OriginalGreenEnergy.com.
SOURCE The Laclede Group, Inc.