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Posts Tagged ‘energy tax incentives’

Energy Tax Breaks to expire

Monday, November 8th, 2010

Federal energy tax incentives up to $1500 are set to expire December 31, 2010. Homeowners can get $1,500 or more in tax credits for certain home improvements completed in 2010.

As of June 1, 2009, windows, doors, and skylights with U-factor and Solar Heat Gain Coefficient (SHGC) ratings of less than or equal to 0.30 are eligible for a federal tax credit of 30 percent of the product price, up to $1,500.

We originally reported in the story Atlanta replacement window tax credits.

More Details on the Energy Tax Credit

On February 17, President Obama signed into law the American Recovery and Reinvestment Tax Act of 2009. This bill extends and modifies the tax credits for windows, doors, and skylights established in the Energy Policy Act of 2005. The following guidance is not intended as legal advice, and you should consult a tax professional with specific questions.

Qualifying products purchased between January 1, 2009 and December 31, 2010 are eligible for a tax credit equal to 30 percent of the product cost. Installation is not included; be sure to obtain an itemized invoice from your retailer or installer. The maximum amount of homeowner credit for all improvements combined (including roofing, insulation, HVAC, and water heaters) is $1,500 during 2009 and 2010.