To visit the IRS's The American Recovery and Reinvestment Act of 2009: Information Center, please click HERE.
Geothermal Heat Pump - 30% federal tax credit with no maximum limit through 2016 and any unused balance may be applied to future tax years until 2016. Geothermal tax credit for North Carolina is 35% up to $8400.
There is also a 30% federal energy efficiency tax credit available for windows, insulation, doors, roofs and water heaters. These items must meet certain criteria in order to qualify.
All heating and cooling systems must be energy star approved and may be required to meet certain other criteria in order to qualify for any tax credit.
This is only a brief summary of the available tax credits and is subject to change in the future.
Go to www.dsireusa.org for more details.
The American Recovery and Reinvestment Act of 2009 extended many consumer tax incentives originally introduced in the Energy Policy Act of 2005 (EPACT) and amended in the Emergency Economic Stabilization Act of 2008 (P.L. 110-343). Businesses, utilities, and governments are also eligible for tax credits.
See the summary of the energy tax incentives included in the Emergency Economic Stabilization Act of 2008.
About Tax Credits
Fuel-efficient vehicles and energy-efficient appliances and products provide many benefits such as better gas mileage –meaning lower gasoline costs, fewer emissions, lower energy bills, increased indoor comfort, and reduced air pollution.
In addition to federal tax incentives, some consumers will also be eligible for utility or state rebates, as well as state tax incentives for energy-efficient homes, vehicles and equipment. Each state’s energy office web site may have more information on specific state tax information.
Below is a summary of many of the tax credits available to consumers. Please see the ENERGY STAR® page on Federal Tax Credits for Energy Efficiency for more details on federal incentives and the Database of State Incentives for Renewables and Efficiency (DSIRE) for information on federal, state, local, and utility incentives.
Home Energy Efficiency Improvement Tax Credits
Residential Renewable Energy Tax Credits