In all the hubbub of the last several weeks, those of you planning on home improvements may have missed the good news. In the “Emergency Economic Stabilization Act of 2008” (which you and I know as the bailout package) passed last month, home energy efficiency tax credits were reinstated. Included are credits for windows, doors, roofs, insulation, heating and air-conditioning equipment, and water heaters. The law also extended credits for solar electric and solar hot water systems.
The best summary I’ve seen is on the ENERGY STAR website.
[Update, June 2009–check out the most common questions we get about the new tax credits in an FAQ page on our website.]