Tax Credits |
| Federal Tax Credits for Consumer Energy Efficiency - Extended Tax Credits for 2011 |
If you purchase an energy-efficient product or renewable energy system for your home, you may be elligible for a federal tax credit. Below you will find an overview of the federal tax credit for energy efficiency.
Not all ENERGY STAR qualified products qualify for a tax credit. ENERGY STAR distinguishes energy efficient products which, although they may cost more to purchase than standard models, will pay you back in lower energy bills within a reasonable amount of time, without a tax credit. |
| What is included in the Tax Credit? |
The “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” includes a one year extension – with revisions – to the federal tax credits on qualifying high-efficiency HVAC equipment.
The efficiency requirements are the same as for the 2009/2010 program (except boilers and oil furnaces, where the minimum AFUE is now 95%).
The maximum amount an eligible that you may receive in tax credits for “residential energy property” purchased in 2011 will be reduced from $1,500 to $500. However, the total amount of credits claimed for purchases between 2006 and 2010 is to be deducted from the $500 cap. If a homeowner has already claimed credits of $500 or more through this allowance, they will be unable to claim new credits for improvements made during 2011.
Tax Credit:
Up to $500
Expires:
December 31, 2011
Details:
Must be a primary residence. Secondary homes, cottages, new construction and rentals do not apply.
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| Heating, Ventilating, Air Conditioning (HVAC) |
Details:
Existing homes qualify. Both principal residences and second homes qualify. Rentals and new construction do not qualify. |
| Call us at 920-336-5551 for information on alternate heating solutions for your home or business. |
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