What is It:
The Home Energy Tax Credit is a credit that is designed to encourage home owners to purchase energy efficient appliances and improvements for their main home.
Who Qualifies:
If you installed any energy efficient products in your main home during the past year, then you likely quality to take the credit. Examples of such products include the following:
- exterior doors and windows
- storm windows
- skylights
- metal roofs
- insulation
- central air and heating
- geothermal heat pumps
- hot water boilers
- advanced air circulating fans
The IRS really restricts this to components that meet the minimum standards of efficiency as defined by the International Energy Conservation Code. If you are in doubt about your appliance or improvement, you can visit the Energy Star Website for a comprehensive list of appliances.
Amount of Credit:
30% of your cost up to a $1500 credit.
Criteria to Qualify:
Meet the above standards and be installed in your main home. A second home, vacation home, rental home, or business place does not qualify for the credit.
