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Tax Credit for New Windows Energy Efficient Upgrades

You May Qualify For a Tax Credit If You Have Installed New Windows or Other Energy Efficient Upgrades.

On February 17th, 2009 President Barack Obama signed into law the American Recovery and Reinvestment Tax Act of 2009. It extends tax credits for certain energy efficient additions or replacements in existing homes only. Be aware that the maximum amount of homeowner credit for ALL improvements combined is $1,500, during 2009 and 2010. Following is a list of items that qualify:

  • Windows and Doors
  • Insulation
  • Roofs (either metal or asphalt)
  • HVAC
  • Water Heaters
  • Biomass Stoves

For the following items through the year 2016 on existing homes as well as new construction, tax credits are available at 30% of the cost with no limit:

  • Geothermal Heat Pumps
  • Solar Panels
  • Solar Water Heaters
  • Small Wind Systems
  • Fuel Cells

For the Tax Year 2008, the only energy efficiency improvements eligible for tax credit are:

  • Geothermal Heat Pumps – 30%, up to $2,000
  • Solar Water Heaters – 30% up to $2,000
  • Solar Panels – 30% up to $2,000
  • Small Wind Energy Systems – 30% up to $4,000
  • Fuel Cells  – 30% up to $1,500 per .5kW of power capacity

To claim this credit you must file IRS Tax Form 5695 with your 2008 taxes.

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