[Editor's update, Jan. 4, 2011: A comprehensive summary of the 2011 energy tax credit with a table listing specifications and dollar amounts for various improvements is now available.]
Included in the tax legislation that Congress recently passed and the President signed is a one-year extension of the federal tax credit for energy improvements to homes. Unfortunately, it’s significantly less attractive than the 2010 tax credit. In 2011, there will be an overall cap of $500, with smaller caps for particular items. For example, qualifying furnaces would only garner a $150 credit. The WSJ’s Market Watch gives a nice high level view. The 2011 credit is in sharp contrast to the $1,500 credit you could have received in 2010. There’s really only one week left to try to take advantage of the much better credit. If you think you’ll need a new furnace (for example) over the next couple of years, it may be worth accelerating the change–if you can still squeeze it in.
There are still very generous state, local, and/or utility incentives for many of the customers we serve. Give us a call or visit our website to see how we can help.
Tags: $$ still available in 2011 despite the changes in the credit, $1500, 2010, 2011, 2011 energy tax credit, air conditioner, boiler, energy retrofit, energy upgrade, federal, furnace, home energy, Market Watch, rebate, residential tax credit, tax credit, tax credit extended, tax credit extension