People who install energy efficiency systems can have
the opportunity to save themselves a good deal of money. Thanks to the
residual effects as well as federal tax credits, those who have these
systems could save money now and later. But these credits do not always
work exactly the way that people think they will.
For example, if you filed your taxes in 2007, you were among the last
who could take advantage of many of the energy efficiency tax credits
available. This means that if you have installed doors, roofs, insulation,
HVAC and windows after 2007, you currently cannot get any tax credits
for these items. The tax credit for solar water heaters and solar panels,
on the other hand, remains in effect through Dec. 31, 2010.
The tax credits for the energy efficiency systems that deal with solar
power are available for those who installed systems that were placed
into service from January 1, 2006 to Dec. 31, 2010. The tax credit is
equal to 30 percent of the system. The cap for this is at $2,000.
Energy efficiency systems can come in a few different ways, but if you
want to be able to save some money, you should check to see which energy
efficiency systems will best help you get some tax money back.