Good news on the energy-efficiency front. With the ARRA now passed and ready to roll, homeowners now qualify for up to $1,500 in tax credits for energy efficiency home improvement projects including:
- Windows with U-values less than or equal to 0.30
- Gas/propane furnaces with greater than or equal to 95% AFUE
- Gas/propane boilers with greater than or equal to 90% AFUE
- Oil furnaces/boilers with greater than or equal to 90% AFUE
- Water heaters with an energy factor greater than or equal to 0.82.
And the cap on the 30% credit for solar thermal/solar hot water has been lifted.
These credits apply for projects in 2009 and 2010.
With a massive increase in the Weatherization assistance program—about 6-fold to $5 Billion over two years—insulation services will also be in big demand.
Homeowners can beat the rush, take advantage and the tax credits, and start saving immediately by scheduling improvements NOW. Insualtion, heating and cooling equipment, water heaters, the right windows, and solar systems, qualify provided you make the right choices. (GreenHomes’ Advisors can point you in the right direction). Energy efficiency projects are something that make sense sooner rather than later.