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Finding Energy Tax Credits For Homeowners

Energy Tax Credits For Homeowners

Homeowners who purchase high-efficiency cooling and heating devices may gain from legislation just recently signed into law.

Last August, President Bush signed the Energy Policy Act of 2005. The act includes the home- energy effectiveness tax credit, which provides house owners as much as $300 in tax credits with the purchase of qualified high-efficiency heating, cooling and water-heating equipment. • High-efficiency water heating systems, including heat-pump water heating systems: $300.

Manufacturers and merchants ought to be able to inform homeowners whether a specific item qualifies for a tax credit. • Air-source heat pumps: Heating Seasonal Performance Factor (HSPF) of 9 or higher, SEER of 15 or greater and EER of 13 or higher.

In addition to providing tax cost savings, these high-efficiency products will make it simpler for homeowners to reduce energy usage and lower their energy expenses. To get approved for the tax credits, homeowners will require to confirm the efficiency of the date and the equipment when it was placed in service. The equipment should be installed between January 1, 2006 and December 31, 2007.

Last August, President Bush signed the Energy Policy Act of 2005. The act consists of the home- energy effectiveness tax credit, which uses property owners as much as $300 in energy tax credits with the purchase of certified high-efficiency heating, cooling and water-heating devices. In addition to providing tax savings, these high-efficiency products will make it easier for property owners to minimize energy intake and lower their energy costs.

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