A number of tax credits for homeowners who take steps to make their homes more energy efficient will expire at the end of the year. So you may want to touch base with your clients; if they’re thinking of making changes to furnaces, windows, skylights, air conditioners, and so on, now’s the time.
Here’s the kinds of tax credits we’re talking about:
- Insulation and sealing materials, exterior doors, and certain types of energy efficient roofs (10% of the cost)
- Exterior windows or skylights (10% of the cost, up to $200)
- Electric heat pump water heaters, electric heat pumps, central air conditioners, biomass stoves, and natural gas, propane, or oil water heaters ($300)
- Advanced main air circulating fans ($50)
- Natural gas, propane, oil furnace, or hot water boilers ($150)
These are tax credits, which is pretty much just like cash. For example, if someone buys an energy efficient oil furnace, the government will knock $150 off his tax bill. Nice, huh?