Thanks to the American Recovery and Reinvestment Act of 2009, putting some extra effort by making energy saving improvements in your home can save you some major dollars when it comes to your taxes this year.
There are a variety of improvements and changes that can be made to your home in order to make it more ‘green’ and save you money on long term energy costs, but thanks to the Federal government, 30% of the cost up to $1500 will be given back to you in the form of a tax credit. New construction homes and rentals to not qualify. The home must be your principle residence that is already in existance. There are certain requirements that apply for each product or system, which are outlined on this site: http://www.energystar.gov/index.cfm?c=tax_credits.tx_index
Examples of qualifying improvements include:
- Biomass Stoves
- HVAC
- Insulation
- Roofs
- Water Heaters
- Windows & Doors
- Geothermal Heat Pumps
- Small Wind Turbines (residential)
- Solar Energy Systems
- Fuel Cells
February 11, 2010
Featured, Grand Rapids, News