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Air conditioning tax credit

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CHARLOTTE, N.C. -- Sweltering heat and lots of air conditioners on the fritz have repairmen working overtime.

“It’s extremely busy right now,” said technician Darryn Anderson. “There are too many people calling. We’re just trying to catch up,” he said.

But it may not be all bad news.

Here’s why: the federal government is now offering up to $1500 tax credit if you replace your old system with a new ‘green’ one.

“This is the best incentive I’ve seen,” Brothers Heat and Air co-owner Roger Costner explained.

"Not only does $1500 get you money back but you're going to lower your heating and cooling costs probably another 30 percent," he added.

It's part of the Economic Stimulus Bill signed into law in February by President Obama. It applies to any HVAC system that which meets at least 16 SEER (seasonal energy efficiency ratio) that is installed in an existing primary residence between 2009 and 2010.

"It's like miles to the gallon to a car. The higher that number is the less energy it takes to get to wherever you are going. So, the higher the number the less electricity it takes to cool your home,” Costner said.

But prepare yourself, energy efficient systems typically cost a couple thousand dollars more than the more moderately priced units. Also, not all high efficiency equipment qualifies for the tax break.

Click here for a list of qualifying units.