Sunday, August 30, 2009

Federal Tax Credit: Residential Energy Efficiency Incentives

TIAP (Tax Incentive Assistance Project)


Residential Energy Efficiency Incentives




Homeowners can qualify for a variety of federal tax credits by making home envelope improvements and heating and cooling upgrades, and by installing onsite renewable generation. All incentives are in effect for measures placed in service during 2009 & 2010 unless noted otherwise.


What Do I Need to Do to Qualify for the Incentives?

Under the IRS rules, manufacturers need to certify that specific products are eligible. Homeowners should obtain a copy of this certification from the manufacturer, installer, or retailer when buying these products. Certifications need not be submitted to the IRS, but should be kept on file in case the IRS has questions. Homeowners should also keep records of when each eligible measure is installed and the cost of the system (including labor). To apply for these incentives, taxpayers should use the IRS Residential Energy Efficient Property Form 5695, available on the TIAP home page.

For more information on criteria, specifications, and other details, visit the TIAP Web site at www.energytaxincentives.org. TIAP also offers links to other sites for specific information on products and technologies.


State and Utility Incentives

In addition to the federal tax incentives, complementary incentives may be available from your state or local utility. For information on many of these programs, see these links:

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