Government Green for Going Green

On top of the $8000 tax credit for purchasing a home in 2009, additional tax credits are also available for energy efficient home repairs. Get a tax credit of 30%, up to $1500, for windows & doors, insulation, roofs, HVAC, non-solar water heaters, and biomass stoves. Some items have no upper limit (30% of cost regardless). These items include:

• Geothermal heat pumps
• Solar Panels
• Solar water heaters
• Small wind energy systems
• Fuel cells

These tax credits have been enhanced by the latest stimulus package by extending the deadline to 2010, allowing an upper limit of $1500 rather than $500, raising the tax credit amount from 10% to 30%, applying to installation costs, and removing the $200 cap on windows. You can learn more about these great opportunities for renovations and home buying options at EnergyStar.gov.

Note: The $1500 tax credit cap is for combined cost of repairs done in 2009 and 2010; it is not $1500 per year.