Energy Efficient Improvements
A great question keeps resurfacing about which energy efficient improvements qualify in 2009. As you may remember, this credit was available in 2006 and 2007, then disappeared in 2008, but has been passed again for 2009 and 2010. They don’t make it easy, do they?!?!? As it stands for 2009 and 2010, the credit is available for certain Windows, Doors, Insultation, Roofs, HVAC, Water Heaters, and Biomass Stoves, and is equal to 30% of the cost of equipment up to $5,000 (which is a credit of up to $1,500). This maximum $1,500 credit is spread over the two years, so while you can purchase items in separate years, there is a maximum of $1,500 total, not per year. Now for the tricky part…every category has VERY specific requirements, right down to the R-value of the insulation. For more details on which purchases qualify, please visit the Energy Star website. As a side note, qualified solar, geothermal and wind systems earn a credit of 30% with no cap on the cost, so if you’re looking into those, the benefits are far greater.
