Green energy tax breaks & Bucks County market snapshots

Green Energy Tax Breaks Renewed And Extended

New consumer tax credits for energy-efficient home improvements were signed into law last October as part of the Emergency Economic Stabilization Act of 2008. The bill extended tax credits for energy-efficient home improvements, including windows, doors, roofs, insulation, HVAC and non-solar water heaters.

To be eligible, all qualifying products must be purchased and installed between January 1 and December 31, 2009, except solar systems and fuel cells which must be installed by 2016. Improvements made during 2008 are not eligible for a tax credit, and combined tax credits are still capped at $500 (unless otherwise noted below). Qualified deductions include:

• 10% of cost for qualifying exterior doors, storm doors, metal roofs and insulation.
• 10% of cost for selected windows, skylights and storm windows.
• $300 credit for central air-conditioning systems and heat pumps.
• $150 for top-efficiency furnaces and boilers that go beyond the Energy Star standard.
• $300 for super-efficient tankless or electric heat pump water heaters.
• 30% of cost, up to $2,000, for solar water heaters (swimming pool heaters don't qualify).
• 30% of cost -- without a cap -- for electricity-generating solar panels.
• 30% of cost, with a cap of $1,000 per kilowatt hour capacity, for high-efficiency fuel cells.