Home Energy Efficiency Tax Credit Photo Credit: Google Images |
Air Movement in House |
This Act provides extensions of energy tax credits under IRS code section 25C that previously expired at the end of 2011.
The new retroactive tax credit makes qualifying energy improvements completed in 2012 eligible and extends the tax credit for new work completed through 2013!
The maximum tax credit for all qualified home energy improvements under this legislation is $500. If you have claimed $500 or more in home energy tax credits in any previous tax year, you are not eligible for this tax credit.
The maximum tax credit for all qualified home energy improvements under this legislation is $500. If you have claimed $500 or more in home energy tax credits in any previous tax year, you are not eligible for this tax credit.
Here is an overview of eligible home energy improvements and their associated tax credit allowance:
· Insulation for walls, attic or basement: 10% of material costs only up to $150 maximum
· Front Door: 10% of material costs only up to $150 maximum
· Energy Star Replacement Windows: 10% of material costs only up to $200 maximum
· 95% Efficient Furnace (natural gas or propane): $150
· 95% Efficient Boiler (oil, natural gas or propane): $150
· Qualifying Air Conditioner and Electric Heat Pump: $300
· Electric Heat Pump Water Heater (2.0 energy factor): $300
· Natural gas, propane or oil water heater with .82 energy factor: $300
Click here for additional details. The first step to making an energy improvement on your home is getting an energy audit. Schedule an energy audit with A&E Construction's BPI certified energy professionals and learn about the potential cost savings you can earn on your improvement.