Are you a homeowner and need a new HVAC? How about a new roof? Or double-glazed energy-efficient windows? Have you been putting off installing any of these because of the costs?
Dear Homeowner, the time is now! Because part of the stimulus package is a nice tax credit for energy-efficiency upgrades.
What upgrades are eligible for the tax credit?
1. HVAC systems - 30% of the cost of the product plus installation costs up to $1,500, available up to end of 2010;
2. Non-solar water heaters - 30% of the cost of the product plus installation costs up to $1,500, available up to end of 2010;
3. Renewable energy systems: solar water heaters, solar panels, geothermal heat pumps, wind-energy systems and fuel cells - 30% of the cost of the product plus installation costs with no cap and credit is available through 2016;
4. Windows, doors, insulation and new roofs - only the cost of materials is eligible for the credit.
And what upgrades are not eligible?
Room air-conditioners, refrigerators, dishwashers, washers, ceiling fans, programmable thermostats, regular electric water heaters and electric tank-less water heaters.
Make sure you keep those receipts and product literature, and make sure you use a licensed contractor.
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