Green Tax Credits For Individuals
Individuals can benefit from these new energy tax credits by making purchases or improvements that comply with the guidelines in the following areas:
| Insulation |
Exterior Doors |
Skylights |
| Storm Windows and Doors |
Metal Roofs |
Asphalt Roofs |
| Central Air Conditioning |
Heat Pumps |
Natural Gas or Propane Furnaces |
| Oil Furnace |
Hot Water Heaters |
Circulating Fans |
| Biomass Stoves |
Photovoltaic Systems |
Solar Water Heating |
| Small Wind Turbines |
Hybrid Vehicles |
GeoThermal Heat Pumps |
| Fuel Cell Vehicles |
Electric Vehicles |
Alternative Fuel Vehicles |
| Residential Fuel Cells |
|
Residential Micro Turbines |
Not all products qualify for this tax credit. Make sure you check the EnergyStar web site before making your purchase. For additional information on making your home or business more energy efficient this chart has a complete description of energy tax credits for homeowners.
Green Tax Credits For Business
In addition to individuals home builders and manufactured home builders may receive up to $2000 per home for installing efficient heating and cooling systems that are constructed according to certain energy conservation requirements. For more information see IRS Form 8908.
Commercial builders may also receive a tax deduction of up to $1.80/square foot on construction of new projects that meet certain guidelines. For information about software to calculate these credits see the Department of Energy site on Energy Efficiency and Renewable Energy.
Green Tax Credits are also available for businesses that update their existing structures by installing lighting, heating and cooling, or building envelope features such as insulation, windows, and roofing.
If you are considering building or making changes to a residential or commercial structure looking into Green Energy Tax Credits further may pay off for you in the form of tax savings now and energy savings for years to come.
