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Federal Tax Credits for Energy Efficiency

On February 17, 2009, President Obama signed a stimulus bill (The American Recovery and Reinvestment Act of 2009) that made some significant changes to the energy efficiency tax credits. The highlights are:

  • The tax credits that were previously effective for 2009, have been extended to 2010 as well.
  • The tax credit has been raised from 10% to 30%.
  • The tax credits that were for a specific dollar amount (ex $300 for a CAC), have been converted to 30% of the cost.
  • The maximum credit has been raised from $500 to $1500 for the two years (2009–2010). However, some improvements such as geothermal heat pumps, solar water heaters, and solar panels are not subject to the $1,500 maximum.

SUMMARY OF TAX CREDITS FOR HOMEOWNERS

Product     Category             Product Type

                 Tax Credit

     Tax Credit

Notes

Water HeatersGas, Oil, Propane Water HeaterEnergy Factor >= 0.82
or a thermal efficiency of at least 90%.
30% of cost, up to $1,5002

Not all ENERGY STAR gas storage and gas condensing water heaters will qualify for the tax credit. All ENERGY STAR gas tankless models will qualify.

ENERGY STAR criteria:

Gas Storage:
Energy Factor >= .62

Gas Tankless:
Energy Factor >= 0.82

Gas Condensing:
Energy Factor >= 0.8

For a partial list of qualifying products go to the Gas Appliance Manufacturing Association

Electric Heat Pump Water HeaterSame criteria as ENERGY STAR: Energy Factor >= 2.030% of cost, up to $1,5002

All ENERGY STAR qualified electric heat pump water heaters qualify for the tax credit.