Recently Al Heavens of the Inquirer Real Estate, wrote a great short guide to home improvement tax credits. The article reminds homeowners that the tax credits in the ARRA or American Recovery and Reinvestment Act are temporary. Some of the credits qualify homeowners for significant savings but the certain guidelines for each product must be met. Al Heavens article does an excellent job in breaking down some of these requirements.
A few excerpts:
“… until Dec. 31, 2010, homeowners can take advantage of a national tax credit of 30 percent of the cost, up to $1,500, on a variety of energy-saving products. Insulation, windows and doors, roofing, heating, ventilating and air conditioning systems, tankless water heaters and alternative energy programs, such as solar panels and wind turbines, are covered.”
“Here comes the sun: Then there is the Residential Energy-Efficient Property Credit, or Section 1122, of the Recovery Act. This is a nonrefundable energy tax credit designed to help individual taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters, geothermal heat pumps, and wind turbines.”
Moonoworks supplies New England homeowners with several of these qualifying products including: energy efficient Renewal by Andersen windows and doors, cool roofing technologies, Repower Home solar hot water systems, and Ownes Corning blow-in insulation.