2011-10-04
Energy tax credits are still available in 2011 with changes made from 2010. If you’re confused about what you can claim, let us help you.
2010 Energy Tax Credits:
30% of product cost up to $1,500.00
2011 Energy Tax Credits:
10% of product cost up to $500.00
Also note, that any energy tax credit taken in 2010 or before will count against the $500 limit you can claim in 2011. So, if you claimed $200 in energy tax credits in 2010, you are now only able to claim up to $300 in 2011.
As before, these energy tax credits are only available if the home is existing and is your principal residence. New homes do not quality.
2011 Energy Tax Credits:
- Insulation, doors, and roof credits – up to $500
- Air Conditioners – up to $300
- Energy Star Windows – up to $200
- Water Heaters – up to $300
- Furnaces – up to $150
Make sure the products you are buying are approved for the energy tax credits before you buy! Guidelines for approved upgrades can be found at Energy Star:
http://www.energystar.gov/index.cfm?c=tax_credits.tx_index