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"You can get a one-time tax credit up to $500 in
total for installing efficient new windows, insulation, doors,
roofs, and heating and cooling equipment in your
home."
"What energy-efficient home improvements are
eligible?
The overall $500 cap can be reached in several ways
with the purchase and installation of energy-efficient products:
- Exterior windows (including skylights) 10 percent of
the total cost, up to $200.
- Insulation, exterior doors, or pigmented metal roofs:
10 percent of the total cost, up to $500. Duct sealing and weather
stripping or foam sealants may also qualify for the credit,
depending on the IRS rules.
- Central air conditioner, heat pump, or water heater: up
to $300 towards the full purchase price.
- Furnace or boiler: Up to $150 towards the full purchase
price, and/or $50 for a furnace with an efficient air circulating
fan."
"In addition, to be eligible for the federal tax
credits:
- Windows, doors, and insulation must meet the
requirements of the International Energy Conservation Code, a
model energy code for buildings. ENERGY STAR windows will almost
always qualify.
- Metal roofs must have pigmented coatings that meet
ENERGY STAR requirements.
- Heating and cooling equipment must meet stringent
efficiency requirements -- not even all ENERGY STAR products will
qualify."
"All the improvements must be installed in or on
the taxpayer's principal residence in the United States."
"When are they available?
The home
improvement tax credits apply for improvements "placed in service"
from January 1, 2006, through December 31, 2007. They are not
available in 2005. The IRS defines "placed in service" as when the
products or materials are ready and available for use -- this would
generally refer to the installation, not the purchase."
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