Federal Tax Credits

 

The following is a summary of the Federal Tax Credit program.  Consult your tax advisor for your eligibility to these credits.  Note that the Federal program differs from utility and manufacturer rebate programs.  Some or all programs may be combined for additional savings.

Equipment must be placed in service from January 1, 2009 through December 31, 2010

Must be for taxpayer's princiapl residence, except for georthermal heat pumps, solar water heaters, solar panels, and small wind energy systems

$1500 maximum total amount that can be claimed for all products placed in service in 2009 & 2010 on windows and doors, insulation , roofs, HVAC, water heaters (non-solar) and biomass stoves.

You must have a Manufacturer Certification to qualify.  Keep your receipts and the Manufacturer Certification Statement.

Improvements made in 2009 will be claimed on your 2009 tax return (filed by April 15, 2010).  Use IRS tax form 5695.  A 2009 version is now available.  Improvements made in 2010 will be claimed on your 2010 tax return.

If you are building a new home, you can qualify to the tax credit for geothermal heat pumps, photovoltaics, solar water heaters, small wind energy system and fuel cells, but the tax credit cannot by applied to windows, doors, insulation, foofs, HVAC or non-solar water heaters.

 

link to Energy Star website