Sunday, October 28, 2007
TAX BREAKS
What’s covered
To encourage homeowners to buy better energy-efficient components for their homes, the federal government is offering tax credits that reduce the cost of certain upgrades. But there is a time limit: The breaks expire at the end of this year. Here are a few of the things covered.
Windows, skylights and storm doors. Recoup 10 percent of the cost of materials, up to $200 for all qualifying windows, skylights and storm windows.
Roofing. Install an Energy Star-certified metal roof and get back 10 percent of the cost, up to $500.
Insulation. Material must meet the 2004 International Energy Conservation Code. If it does, you can get back 10 percent of the cost, up to $500.
Water heaters. Certain high-efficiency models qualify for a $300 credit.
Solar power. Install a photovoltaic system to power your home and get 30 percent of the cost back, up to $2,000.
Heating and cooling systems. Qualified air-conditioning and heating units provide up to a $300 credit.
Source: Energystar.gov