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Energy Tax Credit
Submitted by Anonymous on Tue, 08/24/2010 - 10:20am
Did you know you may currently qualify for a Federal Tax credit up to $1500, if you purchased an energy-efficient product or renewable energy system for your home on or before December 31, 2010. Please note that it must have been an existing home and your principal residence prior to January 1, 2011. New construction and rentals did not qualify.
In accordance with the Stimulus Package, the American Recovery and Reinvestment Act of 2009 had modified and extended the federal tax credits for eligible building components that improve energy efficiency. Eligible products included windows, doors, skylights, siding and many more products. When you purchased qualifying products and installed them in your home prior to December 31, 2010 you earned a tax credit of up to 30% of the products cost and up to $1,500 on your federal income tax.
In order to qualify, windows and doors must have met or exceeded a U-Factor of 0.30 or less, and a Solar Heat Gain Coefficient (SHGC) of 0.30 or less. In addition, virtually all siding products qualified when paired up with qualifying insulation products.
Find out more at: http://www.energystar.gov/index.cfm?c=tax_credits.tx_index