Did you know that the federal government is still offering tax credit incentives for buying energy efficient products? Purchase new windows, doors, and other energy efficient products, and you’ll reduce your energy costs and (hopefully) qualify for a federal tax credit, as well. But don’t assume a product will qualify for a tax credit just because it’s labeled with the ENERGY STAR symbol.
Here is a breakdown of the energy tax credits you can still qualify for before 12/31/12. As with past credits, the products purchased must be for your primary residence, and not a rental or secondary home.
Federal Tax Credits for Consumer Energy Efficiency 2012
The following products qualify for a tax credit of 30% of the cost up to $1,500:
- Heating, Ventilating, Air Conditioning (HVAC)
- Roofs (Metal & Asphalt)
- Non-Solar Water Heaters
- Windows & Doors
- Biomass stoves
In addition, these products qualify for a tax credit of 30% with no limit:
- Geothermal Heat Pumps
- Small Wind Turbines
- Solar Energy Systems
You can also save 30% (up to $ 500.00) on qualifying fuel cells.
For a complete list of qualifying products, visit the Energy Star website. Or visit the IRS website for more information.
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