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Your Home..Energy & Taxes
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The Sunday, March 10, 2009 Free Press / real Estate section states:
The American Recovery and Reinvestment Act of 2009 made some changes to energy-efficiency
tax credits for home improvements. Improvements that qualify mean a tax credit in 2009 and 2010
for 30% of the cost, up to a combined $1,500.
Products that Qualify include: - Insulation
- Windows
- Skylights
- Doors
- Roofs
- Central air conditioners
- Air-source heat pumps
- Geothermal heat pumps
- Gas,oil or propane furnaces or hot water boilers
- Advanced main air circulating fans
- Biomass stoves
- Water heaters
- Solar panels
- Fuel cells
- Windmills
For more information on what is covered, go to www.energystar.gov/taxcredits The smaller credits were increased because they weren't encouraging enough people to make the upgrades
according to the National Association of Home Builders The new tax credit could boost remodeling activities
nationwide by more than $6 billion according to congressional estimates.
The $200.00 limit on windows was eliminated and consumers can now take 30% to a $1,500. tax credit. But they have to have certain ratings for what is known as the U-Factor and the solar heat gain coefficient. Both numbers
need to be 0.30 or lower.
While a lot of attention has focused on building new energy-efficient homes, retrofitting older homes has a bigger
impact on greenhouse gas emissions, said Greg Miedema, chairman of the builders association's re-modelers
committee........Remodeling and retrofitting the nation's older homes is by far the more efficient solution
[ other than new build of energy-efficient homes ] to make a dent in overall energy consumption.  |
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