The tax credits for increasing the energy efficiency of your home are growing. It only makes sense, that to encourage Green Living, the IRS would allow for more energy efficient deductions. As well as the energy savings monthly, tax savings is the best way to convince everyone to save energy!
From the Energy Star website
The only energy efficiency improvements that are eligible for a tax credit in 2008 are:
geothermal heat pumps (30%, up to $2,000)
solar water heaters (30%, up to $2,000)
solar panels (30%, up to $2,000)
small wind energy systems (30%, up to $4,000)
fuel cells (30%, up to $1500 per .5 kW of power capacity)
Tax credits are available at 30% of the cost, up to $1,500, in 2009 & 2010 (for existing homes only) for:
Windows & doors
Roofing (metal & asphalt)
Insulation
HVAC
Water Heaters (non-solar)
In addition to the 2008 credits already available…
The only energy efficiency improvements that are eligible for a tax credit in 2008 are:
geothermal heat pumps (30%, up to $2,000)
solar water heaters (30%, up to $2,000)
solar panels (30%, up to $2,000)
small wind energy systems (30%, up to $4,000)
fuel cells (30%, up to $1500 per .5 kW of power capacity)
Tax credits are available at 30% of the cost, up to $1,500, in 2009 & 2010 (for existing homes only) for:
Windows & doors
Roofing (metal & asphalt)
Insulation
HVAC
Water Heaters (non-solar)
In addition to the 2008 credits already available…
Please read more at the Energy Star website for more details
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