As you likely already know, the 2009 Stimulus Package has a first-time homebuyer refundable tax credit of up to $8,000 that doesn't have to be repaid unless you sell within 3 years. (A married couple is treated as a unit…if ONE has owned a primary residence in the last 3 years, neither one qualifies.) Click here for a very informational site on the plan, developed by The National Association of Home Builders.
You may not be aware that also included in the plan are increased tax credits available for ALL homeowners for energy efficient home improvements.
- Tax credit of 30% of cost, to a maximum of $1,500 for most improvements
- Improvements must be for taxpayers principal residence
- Improvements must be 'placed in service' from January 1, 2009 through December 31, 2010
- Eligible home improvements include: windows and doors, insulation, roofing, HVAC (furnaces, air conditioning, boilers), geothermal heat pumps, water heaters, biomass stoves
Note that not all products qualify for a tax credit, but credits are available for a number of products at high efficiency levels. Click here for more information and lists of qualifying products from ENERGY STAR, a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy helping us all save money and protect the environment through energy efficient products and practices.
Sharlene Hensrud, RE/MAX Results – Email – HomesMSP.com
Great info! This might be the incentive I need to install a high efficiency furnace.
It’s great there are notable tax credits available for ALL homeowners…with savings not just for individuals, but also for energy and the environment!
My wife and I just built a home and we close on the 15th of April, we meet the stipulations for the 8000 dollar credit , but I was wondering on a new construction home (2009) if we are eligible for the 1500 dollar tax credit for out HE furnace, windows, and air conditioning unit. Thanks Scott
Congratulations on your new home! Energy Star say the following: If you are building a new home, you can qualify for the tax credit for geothermal heat pumps, photovoltaics, solar water heaters, small wind systems and fuel cells, but not the tax credits for windows, doors, insulation, roofs, HVAC, or non-solar water heaters.
Great site-we need to all keep the good information about geothermal energy going-all the best to you.
This is information to me.I was clueless about this development…the internet has really made it possible for good information flow.
Agree with Francis. We need to keep up the free flowing invaluable information regarding how we can build greener. We need to be doing more for our planet.
thanks for the information. I was searching for this great information from last few days but never found any where thanks to you have such a great information for me. thanks a lot…………. please carry-on i will wait for your next post
I have to replace my current roof. My roof is a flat type of roof and was wondering what type of roof you change? Should I use the tar roof constructed or modified bitumen or gravel. What would last longer and easier to maintain? I had some leaks and mold in the house and the roof is in poor condition.
Agree with Francis. We need to keep up the free flowing invaluable information regarding how we can build greener. We need to be doing more for our planet.