Save up to 30% on SPF Installation Costs in Homes!

Tax credits are available at 30% of the cost, up to $1,500, in 2009 & 2010 (for existing homes only).

Learn more about Federal Tax Credits!

Tax Credits for Consumers:

Home Improvements

Tax credits are now available for home improvements:

• must be "placed in service" from January 1, 2009 through December 31, 2010
• must be for taxpayer's principal residence, EXCEPT for geothermal heat pumps, solar water heaters, solar panels, and small wind energy systems (where second homes and rentals qualify)
• $1,500 is the maximum total amount that can be claimed for all products placed in service in 2009 & 2010 for most home improvements, EXCEPT for geothermal heat pumps, solar water heaters, solar panels, fuel cells, and small wind energy systems which are not subject to this cap, and are in effect through 2016
• must have a Manufacturer Certification Statement to qualify
• for record keeping, save your receipts and the Manufacturer Certification Statement
• improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) — use IRS Tax Form 5695 (2009 version) — it will be available late 2009 or early 2010
• If you are building a new home, you can qualify for the tax credit for geothermal heat pumps, photovoltaics, solar water heaters, small wind energy systems and fuel cells, but not the tax credits for windows, doors, insulation, roofs, HVAC, or non-solar water heaters. More.
• Residential Geothermal Tax Incentives

30% of total GHP system cost
Credit limited to $2000 for 2008
No limit to credit amount for 2009 to 2016
Can be used to offset AMT tax
Can be combined with solar and wind tax credits
Can be used in more than one year

• Eligibility:

Home must be located in the U.S.
Includes houses, apartments, condos, mobile homes
Does not have to be your main home
GHP must meet Energy Star requirements
Installed between 1/1/2008 and 12/31/2016

• Commercial Geothermal Tax Incentives

10% of total GHP system cost
No limit to total credit amount
Can be used to offset AMT tax
Can be combined with solar and wind tax credits
Can be used in more than one year
10% grant available in lieu of tax credit

• Accelerated Depreciation:

5 year MACR depreciation for entire GHP system
Eligible for 50% first-year bonus depreciation for 2008 - 2009

• Eligibility:

Building located in U.S.
Original use begins with taxpayer

Installed between 10/3/2008 and 12/31/2016

*Information obtained from Energystar.gov on July 5, 2009. Please visit the website to verify the information is current.