Thursday, March 19, 2009
Eco-Cash for Home Owners
So you didn't qualify for home buyer tax breaks or home owner loan modifications from the stimulus bill? Cheer up! You can now get up to $19,000 in upgrades to your house. Expanded tax incentives in 2009 and 2010 for energy-efficient and renewable-energy home improvements include $1,500 in tax credits for qualifying windows, doors, insulation, roofs, heating and cooling equipment, water heaters, and even wood and pellet stoves. You'll get a tax credit of 30% with no upper limit through 2016 for installing qualifying solar technology, small wind-energy systems, or geothermal-well systems.
Low Impact Living has a good breakdown of the savings potential from home improvements but the ultimate source for learning how to get the most tax credits is EnergyStar.gov.
A new homeowner could conceivably do a twofer -- combining the two breaks to REALLY cleanup!