This year Congress passed an economic stimulus package to promote energy efficiency. The American Recover and Reinvestment Tax Act of 2009 includes several provisions modifying and expanding the scope of the energy efficiency and renewable energy incentives for homeowners. Check out this website, managed by the Tax Incentives Assistance Project, www.energytaxincentives.org for details.
Credits are available for:
* energy improvements to homes, such as windows, insulation, and envelope and duct sealing.
* 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.
* qualified solar water heating and photovoltaic systems, small wind and geothermal heat pump systems.
For example, you could receive an incentive of 30% of the cost of eligible measures, with a $1,500 cap on the credit per home.
On-site renewables (solar photovoltaic and hot water systems, small wind systems, and geothermal heat pumps) are now eligible for a tax incentive worth 30% of the total cost, without a cap. (time to go solar!)