Get your tax break - you have until december 31!!

[mikeathens]

For those of you who don't know, you have until the end of the year to make efficiency improvements in your home, and get a tax break for it. You can get up to a $2000 tax credit for installing solar electric, solar thermal (water heating), or fuel cell devices in your home (I think this might be available next year).

But, this is the last year for getting federal tax breaks (up to 10% or $500) for insulation upgrades, exterior windows and doors, certain roofs, qualified water heaters (like on-demand). For example, spend $500 to insulate that crawl space, and you can get $50 back.

If you are going to spend money on insulation, might as well do it now and get a little $$ back on your taxes while it's still available

 

[BrotherBart]

Thanks for reminding me. I bought a hundred bucks worth of insulation last week.

I'm going to DisneyWorld!

 

[James04]

Were can I find info regarding the tax rebates for insulation. Does new construction qualify? For example I went with better windows and insulation levels than code requires. Also insulated the outside of the basement foundation.

James

 

[mikeathens]

This should help:

(broken link removed to http://www.energystar.gov/index.cfm?c=products.pr_tax_credits)

I know there is "new construction" stuff there, but my house is 140 years old, so I haven't really paid attention to that...

 

[babalu87]

You know the thing that burns my ass about these tax credits ( besides that stoves are on the list) ?

Would the price of an on-demand hot water heater really be as high as it is without the tax credits?
Seems to me that the manufacturers are taking advantage of the tax credits by making them as expensive as they are.

 

[mikeathens]

My Bosch 125 on-demand was more expensive when I got it 4 years ago - to my knowledge, there were no tax credits then. I'm adding insulation this year - I don't think insulation prices have gone up with available tax credits. But, I could be wrong.

 

[SteveJ]

A good place for state incentives for renewable energy is DSIRE

 

[ozarkjeep]

I looked into the tax refund for insulation, it will not cover the cost of the insulation?

so I assume you can get back 10% of the cost of the installation?

 

[James04]

Thank you Ozark.

James

 

[ozarkjeep]

I had it backwards, installation costs are NOT included.

(broken link removed to http://www.energystar.gov/index.cfm?c=products.pr_tax_credits#chart)

here is the chart.