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Home Energy Tax Credit

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Home Energy Tax Credit

Take Advantage of the Home Energy Property Tax Credit - 2010 is the final year to take advantage of the Home Energy Property Credit that provides a tax credit for energy-saving improvements made to a taxpayers principal residence.  The credit is limited to $1,500 (30% of up to $5,000 of qualified expenditures) for improvements made in 2009 and 2010.  So, if you claimed this credit in 2009, the most you can claim for energy property improvements for 2010 is the $1,500 maximum less any amount claimed in 2009. 

Qualified improvements (those certified by the manufacturer to qualify for this credit), the use of which must originate with the taxpayer, must have a reasonable expected life of at least five years, and include:

          o  Energy-efficient Exterior Windows and Skylights,
          o  Energy-efficient Exterior Doors,
          o  Energy-efficient Metal Roofs with appropriate pigmented coatings,
          o  Energy-efficient Asphalt Roofing with appropriate cooling granules,
          o  Energy-efficient Heating Systems,
          o  Energy-efficient Air Conditioning Systems and
          o  Insulation Materials or Systems designed to reduce heat loss or gain.