Tax Credits for Energy Efficiency

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President Obama's "Stimulus Bill" (The American Recovery and Reinvestment Act of 2009), which was signed on February 17, 2009, made significant changes to the energy efficiency tax credits. These changes apply to products "placed in service" in 2009.

The highlights are:
  • The tax credits that were previously effective for 2009 have been extended to 2010 as well.
  • The tax credit has been raised from 10% to 30%.
  • The tax credits that were for a specific dollar amount (i.e. $300 for a CAC), have been converted to 30% of the cost.
  • The maximum credit has been raised from $500 to $1,500 total for the two year period (2009-2010). However, some improvements such as geothermal heat pumps, solar water heaters, and solar panels are not subject to the $1,500 maximum.
  • The $200 cap on windows has been removed, but the requirements for windows has been increased significantly. Keep in mind that not all ENERGY STAR qualified windows will qualify.

Click here for more specific information on what is covered by the tax credits.

Comments

Danny Thornton said…
Christina, this is great information to be sharing. We have consumers that come to our network all the time looking for information just like this.
April 9, 2009 at 10:53 PM
Simple Greeen said…
Do the stimulus will work well for renewable energy development?

i doubt it
April 11, 2009 at 2:19 AM
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