The American Recovery and Reinvestment Act of 2009 extended many consumer tax incentives for purchasing energy efficient products. The home energy efficiency improvement tax credits are available to consumers who purchase and install specific products for their homes, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment.
Consumers will receive a tax credit of 30% of the cost, up to $1,500, for improvements placed in service between January 1, 2009, and December 31, 2010. See EnergyStar.gov’s Federal Tax Credits for Energy Efficiency for a complete summary of energy efficiency tax credits available to consumers.
The residential renewable energy tax credit is available to consumers who install solar energy systems, including solar water heating and solar electric systems, small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems in their homes. Consumers will receive a 30% tax credit for systems placed in service before December 31, 2016, and the previous tax cap no longer applies.
There are various automobile tax credits available to individuals or businesses who buy or lease hybrid gas-electric cars and trucks, alternative-fuel vehicles, diesel vehicles with advanced lean-burn technology, fuel-cell vehicles, plug-in electric drive vehicles, and plug-in electric drive conversion kits.
Subscribe to this comment's feed
Show/hide comments
Show/hide comment form