It’s like a 30% discount on the price of energy efficient solutions for your home.
A tax credit offering 30 percent of the cost of qualified alternative energy equipment for a residence is being offered through 2016.
Qualifying equipment includes alternatives like:
- energy efficient solar hot water heaters
- solar electricity generators
- geothermal heat pumps
- wind turbines
Generally, you may include labor costs when figuring the credit and you can carry forward any unused portions of the credit.
Not all energy-efficient improvements qualify so be sure you have the manufacturer’s tax credit certification statement.
Reminder: tax credits are not deductions. Rather, they help reduce the total amount of tax you owe dollar-for-dollar.
For more information and forms explaining Residential Energy Credits go to: Residential Energy Tax Credit Information