Green Tax Credit Deadline Extended

Good news for green-minded homeowners - the deadline to earn tax credits for certain energy-efficient renovations has been extended to December 31, 2011. Eligible projects include biomass stoves, HVAC, insulation, roofs, water heaters, and windows & doors.

The amount of the credit is 10% of cost up to $500 (or a specific amount from $50 - $300), and the renovations must be done in an existing home & principal residence. New construction & rentals do not qualify. There are also green-home renovations that are tax-credit eligible if made by December 31, 2016:
·   Geothermal heat pumps, small wind turbines (residential), and solar energy systems are eligible for tax credits of 30% of cost with no upper limit. Existing homes, new construction, principal residences & second homes qualify - rentals do not.
 
·   Fuel cells are eligible for tax credits of 30% of cost (up to $500 per .5 kW of power capacity). Principal residences qualify - rentals & second homes do not.

For more information on green tax credits, visit energystar.gov.