There are several government programs that give tax credits for building energy-efficient structures or for adding energy-efficient features. Energy-efficiency pays, now more than ever!
The new $8,000 Federal Tax Credit now makes it easier than ever to build the home you've been dreaming of! until June 2010, qualified first-time buyers can receive a tax credit. Link here to learn more http://www.federalhousingtaxcredit.com/2009/index.html
Home Energy Efficiency Improvement Tax Credits On February 17, 2009, President Obama signed the "Stimulus Bill" (The American Recovery and Reinvestment Act of 2009) that made significant changes to the energy efficiency tax credits. These changes apply to products "placed in service" in 2009. The highlights are:
· The tax credits that were previously effective for 2009, have been extended to 2010 as well.
· The tax credit has been raised from 10% to 30%.
· The tax credits that were for a specific dollar amount (ex $300 for a CAC), have been converted to 30% of the cost.
· The maximum credit has been raised from $500 to $1,500 total for the two year period (2009-2010).
· The $200 cap on windows has been removed, but the requirements for windows has been increased significantly. Not all ENERGY STAR qualified windows will qualify. Specific information on what is covered by the tax credits.