Home owners may be able to take advantage of several tax credits for energy efficiency home improvements from this year. But time is running out, the tax credits are set to expire Dec. 31, and Congress has yet to renew them for 2012.
“Making efficiency improvements this year will lower home energy bills and improve home comfort for years to come, while also reducing 2011 federal income tax bills,” Kateri Callahan, president of the Alliance to Save Energy.
The allowance for the tax credits that home owners may be eligible for include:
- 10% of the cost of insulation and sealing materials, exterior doors, and certain types of energy efficient roofs.
- 10% of the cost, up to $200, of exterior windows or skylights.
- $300 for electric heat pump water heaters, electric heat pumps, central air conditioners, biomass stoves, and natural gas, propane, or oil water heaters.
- $50 for advanced main air circulating fans.
- $150 for natural gas, propane, oil furnace, or hot water boilers.
For more information about applying for these tax credits, visit the Alliance to Save Energy Web site.