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Tax credits for Energy Efficiency

Federal Income Tax Credits for Energy Efficiency

Tax credits for residential energy efficiency have been renewed!  These tax credits are available for purchases made in 2016, as well as retroactive to purchases made in 2015.  Tax credits are of 10% of the product cost or a specific amount from $30-$300, up to a total of $500.

Who qualifies for the tax credit?

Owners of existing homes qualify for improvements to their primary residence.  The credit does not apply to new construction or rental properties.

What improvements qualify?

(click on link for specific tax credit amounts, efficiency requirements, and details)

 

          Biomass Stoves
          Air Source Heat Pumps
          Central Air Conditioning (CAC)
          Gas, Propane, or Oil Hot Water Boiler
          Gas, Propane or Oil Furnaces and Fans
          Insulation
          Roofs
          Water Heaters (non-solar)
          Windows, Doors & Skylights

How do I apply?

File IRS-5695 with your Federal tax return.  You must keep receipts for the products or work on file, but you are not required to submit them with your tax return.  You must also keep a copy of the Manufacturer's Certified Statement (available from the manufacturer's website or from your installer) on file;  this form certifies that the product is eligible for the tax credit. 

Disclaimer:  This page is for informational purposes only.  Homeowners should consult with certified tax professionals or the IRS with specific questions.