Sunday, February 22, 2009

Update: Federal Tax Credits for Energy Efficiency expanded!

The most recently passed stimulus bill has some good news for homeowners looking to increase the efficiency of their homes! The maximum mount of tax credit available for energy updates has been increased from 500$ to 1500$, and the credit rate has increased from 10% to 30%. The tax credit has also been simplified, doing away with fixed dollar amounts of credits focused on specific items. Those looking to purchase new windows can also rejoice, as the 200$ cap on window tax credits has also been removed.

Anyone who has used the Residential Tax Credits in the years before 2009 can start anew, and claim up to another 1500$ for updates made in 2009 & 2010.

For more details, please see the following page on the EPA's website, or contact your tax professional.

Chicago Energy Consultants is a proud partner of Energy Star, and is happy to see increased governmental awareness regarding the benefits of energy efficiency!

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