EFFICIENT HOME TAX / ECONOMIC INCENTIVES
AND STATE PROGRAMS
Type: Personal Tax
Credit – Residential Energy Efficiency Credit
Renewable and OtherTechnologies:
Water, Photovoltaics, Wind, Fuel Cells, Geothermal Heat Pumps, and Other Solar and Fuel Techologies.
federal tax credit: 30% of cost
Solar water heating
property must be certified by SRCC or a compatible entity endorsed by the state
where the system is installed. At least half of the energy used to heat the
dwelling’s water must be from solar. Geothermal Heat Pumps must meet Federal
Energy Star criteria. Fuel Cells must have electricity-only generation
efficiency greater than 30%.
Carryover Provisions: Excess tax credits can generally be
carried forward until used.
Start Date: 1/1/2006
Incentive Type: Personal Tax Credit –
Clean Energy Tax Credit
Renewable and Other
Heater, Solar Space Heater, Photovoltaics, Wind, Geothermal Heat Pumps
Amount of state
tax credit: 35% of cost for
photovoltaic; and, $2,500
for solar hot water heating
active space heating and wind energy - $10,500
Star Geothermal Heat Pump - $2,000
Equipment Requirements: Must be SRCC or FSES-GP-5-80 certified
Provisions: Installments over
four successive taxable years beginning with the year the credit is allowed
Program Budget: $2.5 million annually
through 12/31/2011; $5 million annually in 2012, 2013 and 2014
Start Date: 7/1/2008
Consult your personal tax advisor, CPA, or accountant for eligibility and current program details.