On February 17, 2009, President Obama signed a stimulus bill (The American Recovery and Reinvestment Act of 2009) that made some significant changes to the energy efficiency tax credits.
Tax Credits for Homeowners
- The efficiency levels have been modified to reflect the highest tier of the CEE High-efficiency Specification for Residential HVAC Systems for equipment “placed in service” between February. 17, 2009 to December 31, 2010.
- The tax credit has been raised from 10% to 30% for certain products.
- The tax credits that were for a specific dollar amount (i.e. $300 for a CAC), have been converted to 30% of the cost.
- The maximum credit has been raised from $500 to $1500 for the two years (2009–2010). However, some improvements such as geothermal heat pumps, solar water heaters, and solar panels are not subject to the $1,500 maximum.
Call us today to learn more on how you can save money, before time runs out on this incredible offer.