For Your Home
The Energy Tax Credit is one of the best ways to save money on your taxes involving home improvements.
Here is a basic run down of how the tax credit currently works and which products are eligible.
1. Tax credits are available at up to 30% of the cost, with a cap of $1,500 in 2009 & 2010 (only for existing homes, not new construction, and must be your principle residence) for:
- Windows and Doors
- Water Heaters
- Biomass Stoves
Tax credits are available at 30% of the cost, with no upper limit, through 2016 (for existing homes & new construction – this doesn’t have to be your principle residence, for:
- Geothermal Heat Pumps
- Solar Panels
- Solar Water Heater
- Small Wind Energy Systems