If you purchase an energy-efficient product or renewable energy system for your home, you may be eligible for a federal tax credit. To be eligible, there are some considerations to be made. In order to qualify your project must be completed no later than December 31, 2010.
You may be thinking, "it's only August, I have plenty of time". The reality is that factors such as the proposal, scheduling, ordering and production of materials (many windows are custom made) and the project work itself all take time. For material orders, we generally use a time frame of 3-6 weeks as our rule of thumb.
What qualifies for the credit?
Windows, doors and skylights - Energy efficient windows, doors and skylights can reduce energy bills. Storm windows and doors may qualify for a tax credit also.
Insulation- Adding adequate insulation is one of the most cost-effective home improvements that you can do. A variety of materials can be used for this quality improvement.
Roofs - Qualified roof products reflect more of the sun's rays, which can lower roof surface temperature by up to 100F, decreasing the amount of heat transferred into your home. Roofing materials used must meet the Energy Star Requirements.
Heating, ventilating and air conditioning (HVAC), water heaters- A variety of pumps, furnaces, air conditioners, heaters and boilers may be eligible.
If you have been considering a project and would like to take advantage of the Federal Tax Credit, contact your local contractor to get on their schedule. They will be able to work with you on your project using energy efficient materials.
More information may be found at: Energy Star