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Federal Tax Credits for Energy Efficiency

If you were ever planning on upgrading your home, now is the time to do so! The federal government is helping homeowner's who want to increase the energy efficiency of their home by upgrading many items that you may need to have replaced anyway. Not only will you receive significant savings on your federal tax bill, but your ongoing heating, cooling, electricity and energy use costs should drop significantly.

Limited time opportunity

At TMG Carpentry, we have seen a large increase in the number of clients who are asking us to make these upgrades. You should call us soon to schedule an appointment and to get on our 2009 schedule before it's too late! Please read on and follow the provided links to learn more about this great opportunity.

Federal Tax Credits for Energy Efficiency includes:

Tax credits are available at 30% of the cost, up to $1,500, in 2009 & 2010 (for existing homes only) for:

Tax credits are available at 30% of the cost, with no upper limit through 2016 (for existing homes & new construction) for:

Question

Are installation costs covered by the tax credits?
Answer

Installation costs ARE COVERED for:

      • HVAC (Heating, Ventilation and Air Conditioning) systems
      • Biomass Stoves
      • Water Heaters (including solar)
      • Solar Panels
      • Geothermal Heat Pumps
      • Wind Energy Systems
      • Fuel Cells

The tax credit for HVAC, biomass stoves, and non-solar water heaters is 30% of the total cost (product + installation) up to $1,500. The law specifies installation costs include: "expenditures for labor costs properly allocable to the onsite preparation, assembly, or original installation of the property."
The tax credit for solar water heaters, solar panels, geothermal heat pumps, wind energy systems, and fuel cells is 30% of the total cost (product + installation), with no upper limit. The law specifies installation costs include: "labor costs properly allocable to the onsite preparation, assembly, or original installation of the property and for piping or wiring to interconnect such property to the home."

Installation costs are NOT covered by the tax credit for:

      • Windows
      • Doors
      • Insulation
      • Roofs 

The tax credit for windows, doors, insulation and roofs is for 30% of the cost of materials, up to $1,500.

All Information is from Energy Star’s web-site WWW.energystar.gov and US Department of Energy www.energy.gov/tax breaks
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