2011 Federal Tax Credits-- updated 3/2/11

 

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, 2011 through December 31, 2011

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

$500 maximum total amount that can be claimed for all products placed in service in 2011 on windows and doors, insulation , roofs, HVAC, water heaters (non-solar) and biomass stoves.  If you claimed an energy rebate on your taxes since 2006, the total amound cannot exceed $500.

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

Use IRS tax form 5695 when claiming on your taxes.

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