Tax Credits
On February 21, 2006, the Treasury Department and the Internal Revenue Service (IRS) released “Guidance Notices” on claiming tax incentives for energy efficiency improvements to existing homes, new energy efficient home construction and new energy efficient manufactured housing.
For existing residential retrofit measures (“Nonbusiness energy property”) see: http://www.irs.gov/newsroom/article/0,,id=154657,00.html For energy efficient new home construction and manufactured housing, see: http://www.irs.gov/newsroom/article/0,,id=154658,00.html |
What qualifies for a tax credit?
Home Envelope: |
Homeowners can get credits for energy improvements to their homes, such as windows, insulation, and envelope and duct sealing. |
Home Heating & |
Homeowners can get credits for installing efficient air conditioners and heat pumps; gas or oil furnaces and furnace fans; and gas, oil, or electric heat pump water heaters in new or existing homes. |
Solar Energy Systems |
Credits are available to homeowners and businesses who install qualifying solar equipment including photovoltaic cells and solar water heating systems. |
Fuel Cells |
Credits are available to homeowners and businesses who install qualifying systems. Fuel cells are an advanced technology to generate electricity at the site of use, but they are expensive for commercial buildings and are not widely available for homes. |
Please visit http://www.energytaxincentives.org to learn more about the tax credits.
To read the text listing exact requirements, IRS contact addresses and other information about the tax credit, visit: http://www.irs.gov/pub/irs-drop/n-06-27.pdf. More information is also available at www.energystar.gov.
