CPA & Business Advisory Blog

Federal Energy Efficiency Tax Credits – Go Green! Put green back in your pocket.

Did you make upgrades to your primary residence in 2009?  Are there things around the house that need to be fixed?  If the answer to either of these questions is ‘yes’ – we have good news for you.  For 2009, 2010 and beyond, tax incentives exist for making energy efficient modifications. 

If you have an existing home, that is your primary residence, for 2009 and 2010, tax credits are available at 30% of the cost, up to $1,500 per year.  The following qualify for the credit under these terms:

  • Windows and doors
  • Insulation
  • Roofs (metal and asphalt)
  • HVAC
  • Water heaters (non-solar)
  • Biomass stoves

If that is not enough incentive for you to fix or upgrade the things that you have been putting off for too long, wait, it gets better.  For the following list the 30% terms extend through 2016 for either your current home or new construction and there is no upper limit.  30% of what you spend is a tax credit.   

  • Geothermal heat pumps
  • Solar panels
  • Solar water heaters
  • Small wind energy systems
  • Fuel cells

To learn more about the credits available for energy efficiency. please contact Skoda Minotti at 440-449-6800. 

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