| |
Increasing the Energy Efficiency of your Home Can Give YOU Green in YOUR Pocket
Homeowners who make energy efficient improvements to their homes can itemize their purchases...which can lower the amount of tax you owe on your Income Taxes.
Energy Efficiency by definition is the practice of using less energy to do something as good as before or better.
That being said, taxpayers who install specific products such as energy-efficient windows, insulation, doors, roofs, and cooling (air conditioning units) and heating equipment (furnaces) in existing homes can receive a tax credit for 30% of the cost of the improvement up to $1,500, that were placed in service beginning January 1, 2009 through December 31, 2010. (Note: some "installation costs", ie: for windows, roofs and doors, don't qualify for the 30% credit.)
Taxpayers who purchase qualified property can take advantage of the "Credit's 30%" which includes the cost of the property and the installation cost. Eligible are the following:- Electric heat pumps
- Electric heat pump water heaters
- Natural gas, propane or oil water heaters
- Natural gas, propane or oil furnace or hot water boilers
- Central air conditioners
- Advanced main air circulating fans
- Biomass stoves that use 'plant derived" fuel available on a renewable or recurring basis. Like woods, agricultural crops.
Look for Energy Star label for items that qualify for the Home Energy Credits...on doors, windows, roofs, insulation, air conditioning units, and furnaces.
For a complete lists...from the Department of Energy's website ... Of home energy efficiency improvements with the specifications of each,go to their website.
For the DIY'ers who shop at Home Depot...Here is the labels that Home Depot may have on their energy efficient improvements.
For Info on "Renewable" Energy Credits, Click HERE
Return from this Energy Efficiency Page to Home Energy Credits PAGE
Go to "Solar and Wind Power Source" HOMEPAGE
|