How to receive tax credits with new high efficiency purchases. There are a number of improvements you can make to your principal residence (sorry, not the ski cabin) that will qualify for the Energy Efficiency Tax Credit. It’s not as fun to buy a new central air conditioner as it is to buy a new house, but you can still get a tax credit of up to $1,500 — not a bad deal.
Basically, the government is trying to encourage you to save energy, so you can get a tax credit of 30% of the cost of certain improvements — up to a $1,500 tax credit over 2009 and 2010. This credit is per home, so if there are two of you and you each spend $5,000 on new windows, you don’t get to claim $3,000. Sorry.
This is separate from the Energy Star appliance rebate program, which depending on the state, can you get $50 back on, say, the purchase of an energy efficient refrigerator. This one’s about unsexy stuff like roofs, heat pumps, and boilers. But the good news is that there’s no income limit here, so even if you’re a gazillionaire you can still enjoy the savings. Contact a professional HVAC home heating & air conditioning company for details.
Eligible products include:
- Central air conditioning
- Heating improvements such as new boilers and furnaces
- Heat pumps
- Fans (known as “advanced main air circulating fans”) that blow your existing heat through your house
Hope this helps.
- MAD MAX