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Up To $1,500
Tax Credit for Energy Efficiency
Improvements on Your Home
The Federal government is offering to pay for 30%, up to $1,500,
in tax credit to help pay for installation of high-efficiency
equipment in homes around the nation. The equipment must be approved
high-efficiency equipment to qualify, among a few other stipulations
(listed below).
Tax credits are
only available for home improvements that meet the following
requirements:
- must be
"placed in service" from January 1, 2009 through December
31, 2010
- must be for taxpayer's principal residence, EXCEPT for
geothermal heat pumps, solar water heaters, solar panels, and
small wind energy systems (where second homes and rentals
qualify)
- $1,500 is the maximum total amount that can be claimed for
all products placed in service in 2009 & 2010 for most home
improvements, EXCEPT for geothermal heat pumps, solar water
heaters, solar panels, fuel cells, and small wind energy systems
which are not subject to this cap, and are in effect through
2016
- must have a
Manufacturer Certification Statement to qualify (A
Manufacturer’s Certification is a signed statement from the
manufacturer certifying that the product or component qualifies
for the tax credit)
- for record keeping, save your receipts and the
Manufacturer Certification Statement
- improvements made in 2009 will be claimed on your 2009 taxes
(filed by April 15, 2010) — use IRS Tax Form 5695 (2009 version)
— it will be available late 2009 or early 2010
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SUMMARY OF TAX CREDITS FOR
HOMEOWNERS
|
Product Type |
Tax Credit Specification |
Tax Credit |
Notes |
| Central A/C |
Split Systems:
EER >=13
SEER >= 16
Package systems:
EER >= 12
SEER >= 14 |
30% of cost, up to $1,500 |
For a list of
qualified products,
read this FAQ. (Goes to Energy Star website) Note — not all ENERGY STAR
products will qualify for the tax credit.
View ENERGY STAR criteria.
|
| Air Source Heat Pumps |
Split Systems:
HSPF >= 8.5
EER >= 12.5
SEER >= 15
Package systems:
HSPF >= 8
EER >= 12
SEER >= 14 |
30% of cost, up to $1,500 |
| Natural Gas or Propane
Furnace |
AFUE >= 95 |
30% of cost, up to $1,500 |
For a partial list of qualifying products go to:
Air-Conditioning, Heating, Refrigeration Institute (AHRI)
Not all ENERGY STAR products will qualify for the
tax credit. View ENERGY STAR criteria for
furnaces,
boilers.
|
| Oil Furnace |
AFUE >= 90 |
30% of cost, up to $1,500 |
| Boiler/Hydronic |
AFUE >= 90 |
30% of cost, up to $1,5000 |
| Variable Speed Fan |
No more than 2% of furnace
total energy use.
Read this FAQ if the fan qualifies, but the furnace
does not. |
30% of cost, up to $1,500 |
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