This is the last month to do any improvements and gain a tax benefit for improving the energy efficiency of your home. The webiste will give you the details on the extent of credits and improvements, as well as how to claim them on your tax return
http://energystar.gov/index.cfm?c=products.pr_tax_credits
· Insulation and exterior doors, including storm doors: 10 percent of the cost of the product (but not the installation), up to $500. Includes materials to seal air leaks such as caulk, weather stripping, and foam sealants.
· Central air conditioner, heat pump, or water heater: Up to $300 towards the full purchase price, including installation costs.
· Exterior windows, skylights, and storm windows: 10 percent of the total cost, up to $200. All windows with the ENERGY STAR label, the government's symbol for energy efficiency, qualify.
· Pigmented metal roofs: 10 percent of the cost of the product (but not the installation), up to $500 for metal roofs with pigmented coatings that meet ENERGY STAR requirements.
· Furnace or boiler: Up to $150 towards the full purchase price, and/or $50 for an efficient air-circulating fan in a furnace, including installation cost.
ENERGY POLICY ACT OF 2005 - SUMMARY OF TAX CREDITS FOR HOMEOWNERS
| Product Category | Product Type | Tax Credit Specification | Tax Credit | Notes |
|---|---|---|---|---|
| Windows & Doors | Exterior Windows and Skylights | ENERGY STAR qualified OR meets IECC1 | 10% of cost, up to $2002 for all windows, skylights and storm windows | All ENERGY STAR labeled windows and skylights qualify for tax credit.Learn more about ENERGY STAR qualified windows and skylights.
|
| Storm Windows | Meets IECC1 in combination with the exterior window over which it is installed, for the applicable climate zone | 10% of cost, up to $2002 for all windows, skylights and storm windows | Manufacturer Certification Statement3 will list classes of exterior window (single pane, clear glass, double pane, low-E coating, etc.)4 that a product may be combined with to be eligible in specific climate zones.
| |
| Exterior Doors | Meets IECC1 | 10% of cost, up to $5002 | ENERGY STAR doors will almost always qualify, except for certain parts of California4. Learn more about ENERGY STAR qualified doors.
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| Storm Doors | In combination with a wood door assigned a default U-factor by the IECC1, and does not exceed the default U-factor requirement assigned to such combination by the IECC | 10% of cost, up to $5002 | Eligibility will be confirmed by manufacturer and documented in the Manufacturer Certification Statement3
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| Roofing | Metal Roofs | ENERGY STAR qualified | 10% of cost, up to $5002 | All ENERGY STAR labeled metal roofs qualify for the tax credit.
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| Insulation | Insulation | Meets 2000 IECC & Amendments | 10% of cost, up to $5002 |
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| HVAC | Central A/C | Split Systems: EER >=12.5 SEER >= 15 Package systems: EER >= 12 SEER >= 14 | $3002 | For a list of qualified products, go to the Consortium for Energy Efficiency product directory Note - not all ENERGY STAR products will qualify for the tax credit. ENERGY STAR specification:
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| Air Source Heat Pumps | HSPF >= 9 EER >= 13 SEER >= 15 | $300² | Note - not all ENERGY STAR products will qualify for the tax credit. ENERGY STAR specification:
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| Geo-Thermal Heat Pump | Same criteria as ENERGY STAR: Closed Loop: | $3002 | All ENERGY STAR labeled geo-thermal heat pumps qualify for the tax credit.
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| Gas, Oil, Propane Furnace or Hot Water Boiler | Furnaces: | $1502 | For a list of qualifying products go to the Gas Appliance Manufacturing Association Note - not all ENERGY STAR products will qualify for the tax credit. ENERGY STAR specification:
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| Advanced Main Air Circulating Fan | No more than 2% of furnace total energy use | $502 | For a partial list of qualifying products go to the Gas Appliance Manufacturing Association
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| Water Heaters | Gas, Oil, Propane Water Heater | Energy Factor >= 0.80 | $3002 | Only some tankless water heaters currently qualify. This is over 33% more efficient than the current federal standard. For a partial list of qualifying products go to the Gas Appliance Manufacturing Association
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| Electric Heat Pump Water Heater | Energy Factor >= 2.0 | $3002 | This is more than twice as efficient as the current federal standard.
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| Cars | Cars | Hybrid gasoline-electric, diesel, battery-electric, alternative fuel, and fuel cell vehicles | Based on a formula determined by vehicle weight, technology, and fuel economy compared to base year models | Guidance for auto manufacturers There is a 60,000 vehicle limit per manufacturer before a phase-out period begins. Consumers who buy from companies that already sell large numbers of qualifying vehicles will experience a relatively short "window of opportunity" for the credits.
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| Solar Energy Systems | Solar Water Heating |
| 30% of cost, up to $2,000 |
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| Photovoltaic Systems | Photovoltaic systems must provide electricity for the residence, and must meet applicable fire and electrical code requirement. | 30% of cost, up to $2,000 |
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| Fuel Cells | Fuel Cells | Efficiency of at least 30% and must have a capacity of at least 0.5 kW. | 30% of the cost, up to $1000 per kW of power that can be produced |
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