Remember those tax credits
Federal tax credits are available to homeowners who make energy efficiency improvements or invest in solar energy systems.
If you’re starting to think ahead to filing your 2010 federal tax return, keep in mind that energy efficiency improvements made to your home this year may entitle you to a tax credit. Adding insulation and replacing windows — the two components of Chelan County PUD’s weatherization program — can put you in line for both the PUD rebate and federal tax credit.
The tax credit for insulation and windows is for 30 percent of the cost up to $1,500. The home must be an existing home and your principal residence. New construction and rentals do not qualify. The credit is for materials only; installation costs can’t be included. The credit expires Dec. 31, 2010.
Tax credit amounts for other measures vary as do expiration dates. Energy Star maintains a detailed listing of energy-efficiency measures that qualify and answers to frequently asked questions. It’s a good idea to consult your tax advisor as well.
