2009 Tax Credit Information

On February 17, 2009, President Obama signed a stimulus bill (The American Recovery and Reinvestment Act of 2009) that made some significant changes to the energy efficiency tax credits.

 The highlights are:
• The tax credits that were previously effective for 2009 have been extended to 2010 as well.
• The tax credit has been raised from 10% to 30%.
• The tax credits that were for a specific dollar amount (ex $300 for a CAC), have been converted to 30% of the cost
• The maximum credit has been raised from $500 to $1500 for the two years (2009-2010). 

Home improvement tax credits are available for home improvements “placed in service” from January 1, 2009 through December 31, 2010. Any qualified home improvements made in 2008 are not eligible for the tax credit. The tax credits are available for insulation, replacement windows, non-solar water heaters, and certain high efficiency heating and cooling equipment. Other notes and details about the available tax credits are:

• Maximum amount is $1,500 in 2009 & 2010 for most home improvements
• Must be for taxpayers principal residence
• If you are building a new home, you can qualify for the tax credit

Home builders are eligible for a $2,000 tax credit for a new energy efficient home that achieves 50% energy savings for heating and cooling over the 2004 International Energy Conservation Code (IECC) and supplements. At least 1/5 of the energy savings must come from building envelope improvements. This credit also applies to contractors of manufactured homes conforming to Federal Manufactured Home Construction and Safety Standards.

There is also a $1,000 tax credit to the producer of a new manufactured home achieving 30% energy savings for heating and cooling over the 2004 IECC and supplements (at least 1/3 of the savings must come from building envelope improvements), or a manufactured home meeting the requirements established by EPA under the ENERGY STAR program.


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