What Home Improvements Qualify for Tax Credit
March 3rd, 2010 | 
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Many home improvement and renovation projects may qualify you for federal tax credits through the Energy Star program. In general, this program depends on the consumer’s purchase and subsequent installation of Energy Star-certified equipment. A variety of home improvements qualify for government tax credits, which are briefly delineated below.
The installation of energy-efficient windows, doors and/or skylights is the most common method by which to receive a credit. The use of these products generally qualifies for an automatic tax credit, as well as the added bonus of reduced energy costs over time.
High quality roofing installation may also qualify for tax credit. An efficient roof surfacing will reflect more of the sun’s rays, reducing surface temperature and preventing an excess of heat transfer into one’s house. Qualifying roof materials generally include a combination of asphalt coatings and metal composites to protect and reflect.
Insulation products are also a great way to save money on your monthly energy bills, especially in the winter. Insulation is generally inexpensive and comes in many varieties, from rigid boards and fiber rolls to expanding spray and pour-in-place. Each variety may qualify for tax credit as long as the consumer is careful to choose a certified product. Airtight insulation material for sealing leaks may also qualify for the credit.
Heating, Ventilating, and Air Conditioning systems (HVAC) are vital for comfort in all seasons. Though heating and air conditioning services are generally associated with high usage costs, the right components may qualify the user for tax credit as well. Circulating fans that utilize a small percentage of the tempering unit’s energy qualify for credit, as well as certain central air conditioning units and boilers/furnaces. An added benefit to energy-efficient HVAC systems is that the tax credit includes installation costs, which is typically not the case for the previous items mentioned.
Water heaters (gas, oil, propane, or electric varieties) may also qualify for federal tax credits. These devices may count for up to a quarter of the energy used in your residence. Like HVAC systems, the tax credits available for water heaters cover unit installation costs.
Residential renewable energy sources are also gaining in popularity as a result of government-sponsored tax credit incentives. Small wind turbines are great for supplementing low voltage current compatible with domestic electricity needs. Solar energy systems are an additional efficient means to heat water, and may be cited for tax credit if they meet certain criteria. Once again, the installation cost of wind turbines and solar panels are covered by the credit.
If you are considering home renovations to improve your energy efficiency and decrease your usage bills, it is important to remember that only certain brands and models of the above-mentioned products qualify for energy tax credits. Consult with a trusted contractor and verify with a certification statement before purchasing any equipment.
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