Planning on installing insulation, upgrading your HVAC or putting in a new water heater this year? U.S. Secretary of Energy Steven Chu would like you to know that Uncle Sam is behind you, all the way–or at least, 30% of the way.
Under the American Recovery and Reinvestment Act, homeowners are eligible to be reimbursed via tax credits for 30% of the cost of many major home improvements that increase energy efficiency, up to $1,500. For 2009-2010, eligible improvements include biomass stoves, new HVAC systems, improved insulation and roofing, and water heaters, as well as new windows and doors; improvements eligible for the credit through 2016 include geothermal heat pumps and solar and wind energy systems as well as fuel cells.
Secretary Chu reminded taxpayers, in a statement, that they can collect tax benefits for 2009 as they file their returns this spring, and can continue to receive tax credits through the end of this year. A comprehensive run-down of Recovery Act benefits is available via the new interactive Tax Savings Tool, accessible via the White House Web site; more information on eco-home improvement credits is available on the Department of Energy’s Energy Savers site.
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