Federal Tax Credits
The federal government is allowing a tax credit of 10% of the cost for eligible residential energy efficiency measures, up to a total credit of $500. (The $500 limit applies to total efficiency credits claimed since 2006.) These measures must be “placed in service” by Dec. 31, 2013. The maximum amount does not apply to geothermal heat pumps, or solar or wind energy systems which qualify for renewable energy tax credits.
The federal tax credits are available for qualified measure which include:
* Heating and cooling systems ( Geothermal systems qualify for a different tax credit program – click here)
* Insulation and air sealing
* Energy Star water heaters
* Windows, doors and roofing
The federal residential energy tax credits have expired for improvements made after Dec. 31, 2013. Unless Congress restores them with a retroactive date, no new projects will receive a credit. Geothermal and other renewable systems will be eligible for tax credits through 2016.
For details on the tax credit program and requirements click here.
RECC offers equipment rebates to reduce their initial cost. Our present rebate plan includes:
- Geothermal Systems – $250
- Heat Pumps (with electric backup) – $250
- Heat Pumps (with gas backup) – $100
- Water Heaters, standard warranty – $200
- Water Heaters, long-life – $250 (Or a Marathon water heater can be purchased from RECC)
- Electric Ranges – $25
- Electric Clothes Dryers – $25