*The Wells Fargo Home Projects credit card is issued by Wells Fargo Bank, N.A., an Equal Housing Lender. Special terms apply to qualifying purchases charged with approved credit. The special terms APR will continue to apply until all qualifying purchases are paid in full. The monthly payment for this purchase will be the amount that will pay for the purchase in full in equal payments during the promotional (special terms) period. The APR for Purchases will apply to certain fees such as a late payment fee or if you use the card for other transactions. For new accounts, the APR for Purchases is 28.99%. If you are charged interest in any billing cycle, the minimum interest charge will be $1.00. This information is accurate as of 03/01/2021 and is subject to change. For current information, call us at 1-800-431-5921. Offer expires 12/31/2023.
2023 Tax Credits
Air Source Heat Pumps Tax Credit
This tax credit is effective for products purchased and installed between January 1, 2023, and December 31, 2032.
You can claim: 30% of project cost
$2,000 maximum amount credited
What Products are Eligible?
For heat pumps, ENERGY STAR offers a general certification and a cold climate certification.
In general, all ducted heat pumps that have earned the ENERGY STAR label are eligible, as well as certified mini-split systems (non-ducted) with:
- SEER2 > 16
- EER2 > 12
- HSPF2 > 9
Among the models that earn the ENERGY STAR Cold Climate designation, eligible systems are:
- ducted with EER2 > 10
- mini-splits with
- SEER2 > 16
- EER2 > 9
- HSPF2 > 9.5
Note: Under the tax code, eligible equipment must “meet or exceed the highest efficiency tier (not including any advanced tier) established by the Consortium for Energy Efficiency which is in effect as of the beginning of the calendar year.” The eligibility described above is consistent with this requirement.
Central Air Conditioners Tax Credit
This tax credit is effective for products purchased and installed between January 1, 2023, and December 31, 2032.
You can claim: 30% of project cost
$600 maximum amount credited
What products are eligible?
For split systems, ENERGY STAR certified equipment with SEER2 > 16 is eligible. All ENERGY STAR certified packaged systems are eligible.
Note: Under the tax code, eligible equipment must “meet or exceed the highest efficiency tier (not including any advanced tier) established by the Consortium for Energy Efficiency which is in effect as of the beginning of the calendar year.” The eligibility described above is consistent with this requirement.
Furnaces (Natural Gas, Oil) Tax Credits
This tax credit is effective for products purchased and installed between January 1, 2023, and December 31, 2032.
You can claim: 30% of project cost
$600 maximum amount credited
What products are eligible?
Gas Furnaces
ENERGY STAR certified gas furnaces with AFUE > 97% are eligible.
Note: Under the tax code, eligible equipment must “meet or exceed the highest efficiency tier (not including any advanced tier) established by the Consortium for Energy Efficiency which is in effect as of the beginning of the calendar year.” The eligibility described above is consistent with this requirement.
Oil Furnaces
ENERGY STAR certified oil furnaces that use certain fuels are eligible. The equipment must be rated by the manufacturer for use with fuel blends at least 20 percent of the volume of which consists of biodiesel, renewable diesel, or second-generation biofuel.