21 Tax Credits for Homeowners

By Lindsay & Brownell

10/13/2010

Product Category Product Type Tax Credit Specifications Tax Credit
Windows & Doors Exterior Windows & Skylights ENERGY STAR Qualified 30% of cost, up to $1,5001
Storm Windows Meets IECC in combination with the exterior window over which it is installed, for the applicable climate zone. 30% of cost, up to $1,5001
Exterior Doors ENERGY STAR Qualified 30% of cost, up to $1,5001
Storm Doors In combination with a wood door assigned a default U-factor by the IECC, and does not exceed the default U-factor requirement assigned to such combination by the IECC. 30% of cost, up to $1,5001
Roofing Metal Roofs,
Asphalt Roofs 		All ENERGY STAR qualified metal and reflective asphalt shingles. 30% of cost, up to $1,5001
Insulation Insulation Meets 2009 IECC & Amendments 30% of cost, up to $1,5001
HVAC Central Air Conditioning For more information, please visit ENERGY STAR Qualified Products. 30% of cost, up to $1,5001
Air Source Heat Pumps Visit the above link to learn more about ENERGY STAR Qualified Products. 30% of cost, up to $1,5001
Natural Gas, Oil or Propane Furnace Visit the above link to learn more about ENERGY STAR Qualified Products. 30% of cost, up to $1,5001
Gas, Oil, Propane Furnace or Hot Water Boiler Visit the above link to learn more about ENERGY STAR Qualified Products. 30% of cost, up to $1,5001
Advanced Main Air Circulating Fan Visit the above link to learn more about ENERGY STAR Qualified Products. 30% of cost, up to $1,5001
Water Heaters Gas, Oil, Propane Water Heater For a partial list of qualifying products, please visit the Air-Conditioning, Heating, and Refrigeration Institute 30% of cost, up to $1,5001
Electric Heat Pump Water Heater Visit the above link to learn more about ENERGY STAR Qualified Products. 30% of cost, up to $1,5001
Biomass Stove Biomass Stove Stove which burns biomass fuel to heat a home or heat water.

Thermal effiency rating of at least 75%. 		30% of cost, up to $1,5001
Geo-Thermal Heat Pump Geo-Thermal Heat Pump ENERGY STAR qualified. 30% of cost, with no upper limit
Automobiles Hybrid Gasoline-Electroc, Diesel, Alternative Fuel, and Fuel Cell Vehicles There is a 60,000 vehicle limit per manufacturer before a phase-out period begins. Toyota and Honda have already been phased out. Credit is still available for Ford, GM and Nissan.

For more information visit: Fueleconomy.gov 		Based on a formula determined by vehicle weight, technology, and fuel economy compared to base year models.
Electric and Plug-in Hybrid Electric Vehicles The first 200,000 vehicles sold get the full tax credit (then it phases out like the hybrid vehicle tax credits).

Effective January 1, 2010 		$2,500–$7,500
Solar Energy Systems Solar Water Heaters At least 50% of the energy generated by the "qualifying property" must come from the sun. 30$ of cost with no upper limit
Photovoltaic Systems Photovoltaic systems must provide electricity for the residence, and must meet applicable fire and electrical code requirement. 30$ of cost with no upper limit
Small Wind Energy Systems Small Wind Energy Systems Has nameplate capacity of not more than 100 kilowatts. 30$ of cost with no upper limit
Fuel Cells Residential Fuel Cell and Microturbine System Efficiency of at least 30$ and must have a capacity of at least 0.5 kW. 30$ of cost, up to $500 per half kW of power capacity.

1Subject to a $1,500 maximum per homeowner for all improvements combined

2A Manufacturer’s Certification is a signed statement from the manufacturer certifying that the product or component qualifies for the tax credit. The IRS encourages manufacturers to provide these Certifications on their website to facilitate identification of qualified products. Taxpayers are required to maintain a copy of the certification statement for their records, but do not have to submit a copy with their tax return.