Federal Tax Credits for Energy Efficiency Set To Expire
The Federal Tax Credits for Energy Efficiency are set to expire on December 31, 2010. If you want to take advantage of those tax credits it’s time to act fast. Investing in energy efficient home improvements will not only save you at tax time they will also save on heating and cooling costs for years to come.
Energy Efficient Home Improvements
There are several great energy efficient home improvements that qualify for the Federal Tax Credits including:
- Windows and Doors
- Non Solar Water Heaters
- Biomass Stoves
Several of those (windows, doors and insulation) are home improvement projects that many of you can do yourself and save even more money.
Adding additional attic insulation can drastically improve the energy efficiency of your home. Whether you choose to roll out a new blanket of fiberglass insulation or six inches of new cellulose insulation you’re sure to see a savings in those heating and cooling bills.
Probably the home improvement ROI is installing energy efficient replacdment windows. Replacing old drafty windows may sound like a job for the pro’s but it’s certainly a project within reach of many advanced DIY’ers. We’ve written several articles on How To Install Replacement Windows if you’re interested in learning more about how it’s done.
If you do have replacement windows installed by a contractor and your home was built prior to 1978 be sure your contractor has his/her Lead Paint Certification.
$1,500 Tax Credit Will End on December 31, 2010
If you want to take advantage of the energy efficient tax credits you need to move quickly. These tax credits can be as high as $1,500 which should offset a good chunk of any money spent on these home improvements. With the always rising cost of fuel the payback will continue for years to come.