How 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.
- 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.