The following excerpt was taken from the
U.S. Department of Energy web site:
http://www.energysavers.gov/financial/70010.html
Tax Credits for Energy Efficiency
If you purchase an energy-efficient product or renewable energy system for your home, you may be eligible for a federal tax credit. Below you will find an overview of the federal tax credits for energy efficiency. You can also download our tax credit fact sheet (PDF 753 KB). Download Adobe Reader.
How to Claim Your Tax Credit
Some of the following documents are available as Adobe Acrobat PDFs. Download Adobe Reader.
- Claim improvements made in 2009 on your 2009 taxes, filed by April 15, 2010.
- Use the 2009 version of the following forms:
- For renewable and efficiency credits: IRS Form 5695 (PDF 107 KB).
- Updated versions of these forms will be available for 2010 taxes.
- Save your receipts and the Manufacturer Certification Statement for your records.
Products Eligible for Tax Credits Through 2010
The products in this section are eligible for tax credits at 30% of the cost, up to a total credit of $1,500; they must be "placed in service" from January 1, 2009 through December 31, 2010. Select "See Details" under each section below for more information on each product, or see the printable version):
Note that the $1,500 maximum limit is for all of the efficiency measures combined over the two-year 2009-2010 period; you can purchase up to $5,000 worth of products over the two years and get 30% or $1,500 as a tax credit. If you get the full $1,500 tax credit in 2009, you are not eligible for a tax credit on these products in 2010.
The credits for products subject to the $1,500 limit are only available for primary existing residences and only through 2010. The maximum does not apply to geothermal heat pumps, solar energy systems, wind energy systems, and fuel cells, which have no upper limit and are listed below under "Products Eligible for Tax Credits Through 2016." You can receive both the tax credit capped at $1,500 and the tax credit for products with no upper limit. See the ENERGY STAR FAQ for more information on tax credit amounts.
The credits are nonrefundable, that is, the credits are only available to the extent you have a tax liability. For 2010, the credits for home energy improvement products eligible through 2010 may be limited if you are subject to the Alternative Minimum Tax (AMT).
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Biomass Stoves
Credit: 30% of cost, up to $1,500 When and Where:
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Thermal efficiency rating of at least 75% as measured using a lower heating value. Credit includes installation costs. |
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