Home Owner Tax Credit Guide

Homeowner Energy Tax Credit: Save More Money this Economic Crisis

An energy tax credit is being offered to homeowners once more this 2009, for home improvements done that help reduce energy consumption. Have you been an advocate of environmental protection even when buying products for your household?

Then good for you because this tax credit does not only apply to the energy-saving purchases you have made this year, but to those you made in the years 2007 and 2006. For a household purchase to be qualified for credit, it must be brand new and should be bought with the intention of keeping it installed for at least 5 years.

If you meet all the requirements you get a 10% to 30% tax incentive for each purchase made. The maximum amount of credit you can save is $500. This amount is for all the purchases made in 2006, 2007, and 2009.

Numerous products qualify for this incentive, including fan systems, skylights, and heating and air conditioning systems (central), windows and doors, and biomass fuel stoves (at least a 75% efficiency is rating required).

You can get the most incentives from products that actually produce energy. For example, you get 30% of your investment back when installing solar panels in your home, with a maximum amount of $2000 going back to you. Wind energy systems (small), fuel cells, solar water equipment, and other similar products will also give you a 30% tax credit.

The power is now in your hands to save the environment and get your homeowner energy tax credit all at the same time.