As of January 1, 2009 the federal law will expand and extend valuable tax credits to homeowners who make certain energy-efficient upgrades to their home. Benefits include lower energy bills, increased indoor comfort and reduced air pollution.
Energy efficient products eligible for the federal tax credits actually lower the amount of federal income taxes that you must pay.
*Please consult a tax advisor to ensure proper tax credits*
A Few Examples:
New Central Air or Heat Pump will give you a tax savings of $300 if Energy Star rated, but only some products qualify so be sure to check before making the big purchase.
New Windows will give you a tax savings of up to $200 if they are Energy Star rated.
A maximum tax credit of $500 can be given for home improvements.
In some parts of the country, consumers will also be eligible for utility or state rebates or state tax incentives for the same homes, vehicles and equipment.
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