Window and doors and money! Oh MY!!!

Window and doors and money! Oh MY!!!

windowHow about becoming more energy efficient AND getting a tax deduction? Sounds good, right?

Highlights for Biomass Stoves, Air Source Heat Pumps, Central AC, Gas/Propane/Oil Hot Water Boilers, Gas/Propane/Oil Furnaces & Fans, Insulation, Roofs, Non-solar water heaters, and Windows/Doors/Skylights

  • The credit is limited to $500 over a LIFETIME.  Yep, unfortunately it has a lifetime limit.
  • You get 10% of the cost up to $500 for some items or a specific amount between $50-$300 for others.
  • Must be used at your principal residence.  Not a new construction.  Not for second home.  Not for rentals.
  • The tax credit does NOT include installation costs.
  • There is a total credit limit of $200 for WINDOWS/DOORS/SKYLIGHTS and they must be Energy Star Certified.

Regarding INSULATION:

  • products that air seal (reduce air leaks) can also qualify as long as they come with a Manufacturer’s Certification Statement
  • Weather stripping, spray foam in a can designed to air seal, caulk designed to air seal, and house wrap may also qualify.

Items with NO UPPER LIMIT.   The credit is 30%. Existing homes & new constructions qualify.   Tax credits for Solar Energy Systems are available at 30% thru 12/31/19.  then 26% for 2020, 22% for 2021. Principal homes and seconds homes qualify.

  • Geothermal Heat Pumps
  • Small Wind Turbines
  • Solar Energy Systems

30%, no upper limit. expires 12/31/16.  Existing home & new construction.  Must be principal residence. Not for second homes or rentals.

  • Fuel Cells (Residential Fuel Cell & Microturbine System)

Here is an Energy Star website that shows you possible REBATES you can get.

Linda Reinhardt

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