Tax credits available for energy efficiency
PUD customers have been calling the Conservation Department to ask about federal tax credits for energy efficiency improvements to their homes. The federal government will pay for up to 30 percent of some home improvements through a tax credit authorized in the stimulus bill passed by Congress earlier this year.
Complete information is available on the Energy Star Web site. But here’s a summary of the key points.
Tax credits are available at 30 percent of the cost, up to $1,500, in 2009 and 2010 for existing homes only for:
• Windows and doors
• Insulation
• Roofs (metal and asphalt)
• HVAC systems
• Water heaters
• Biomass stoves
Installation costs are NOT covered by the tax credit for windows, doors, insulation and roofs. The tax credit for windows, doors, insulation and roofs is for 30 percent of the cost of materials only, up to $1,500.
Customers participating in the PUD’s low-interest weatherization loan program are eligible for the tax credits.
Tax credits are available at 30 percent of the cost, with no upper limit through 2016, for existing homes and new construction for:
• Geothermal heat pumps
• Solar panels
• Solar water heaters
• Small wind-energy systems
• Fuel cells
Installation costs ARE COVERED for HVAC, biomass stoves, water heaters (including solar), solar panels, geothermal heat pumps, wind-energy systems and fuel cells.
Tax credits of between $2,500 and $7,500 are available for plug-in hybrid electric vehicles. Tax credits also are available for hybrid vehicles, for both personal use and for business use.
Home builders are eligible for a $2,000 tax credit for a new energy-efficient home.
More resources:
U.S. Department of Energy – Tax Breaks
Tax Incentives Assistance Project
