There are two major federal tax credits (direct reductions of the total taxes you owe) for energy efficiency, so there are two expiration dates, as well:
- December 31, 2013
- December 31, 2016
Each tax credit applies to different home energy efficiency products.
In this article we’ll explain:
- Which federal tax credits apply to what energy-efficient products
- How to apply for the tax credits
Federal tax credits for energy efficiency that expire in December 31, 2013
Tax credit amount: You’ll get back 10% of the cost of the energy-efficient product (up to $500), or you get a specific amount from $50 to $300.
What it applies to and the specific tax credit amount:
- Air source heat pumps ($300)
- Air conditioners ($300)
- Tank water heaters and tankless water heaters ($300)
- Natural gas, propane or oil furnaces ($150)
- Boilers ($150)
- Insulation (10% of cost, up to $500)
- Metal and asphalt roofing (10% of cost up to $500)
- Windows and doors (10% of cost, up to $500, but windows are capped at $200)
- Advanced main air circulating fan ($50)
- Biomass stoves ($300)
To get the tax credits, each of these products needs to meet specific energy efficiency requirements. See what these requirements are on ENERGY STAR’s website.
Federal tax credits for energy efficiency that expire on December 31, 2016
Tax credit amount: You’ll get back 30% of cost of the energy-efficient product with no upper limit.
What it applies to:
Again, there are energy efficiency requirements that need to be met to apply for the tax credits.
How to do I apply for the tax credits?
Submit this 5695 form with your 1040 tax form. Easy as that!
Call a reliable Florida contractor for help
Cool Today installs many of these energy-efficient products in your home and offers financing to make them easier to afford.
If you have any questions or need an estimated price for installation, contact us online or give us a call at (800) 226-2636.
Cool Today provides award-winning air conditioning service to Sarasota, Florida and the surrounding areas like Bradenton, Tampa and Port Charlotte. If you have any questions, talk to one of our experts for help.
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