Qualifying for Energy Credits

Tax credits are available for only your principal residences and will be filed on your 2009 taxes (due in 2010). Not all Energy Star products qualify, but double-check for qualifications.

The item purchased must be in service between Jan 1 2009 and Dec 31 2010 for many items but for higher priced items the deadline is extended.

Make sure to save your receipts and the Manufacturer Certification Statement.  For windows, you’ll need to save the Energy Star label.  These do not need to be sent to the IRS, but instead filed in case it is requested by the IRS for auditing purposes.

The maximum credit allowed is $1,500 for two years (2009 and 2010) for all of the qualifying home improvements.  High priced items like Geothermal heat pumps, solar panels, fuel cells, windmills and solar water heaters are not subject to this tax credit cap and the credits are in effect till 2016.