2009 Green Tax Credits

In the “economic bailout” Congress included some energy efficiency tax credits and they even increased some of the incentives for 2009.  According to Dawn Killough at GreenBuildingElements.com, these are the some of the credits available in 2009:

* Purchase of hybrid car or SUV:  $250 to $3,150, depending on vehicle weight and fuel economy
* Purchase of central air conditioner or heat pump: $300, only some Energy Star products qualify
* Furnace or boiler: $150, only some Energy Star products qualify
* Windows:  up to $200, all Energy Star windows qualify
* Insulation and sealing: up to $500, must meet model building code as installed
* Ground source heat pump:  up to $2,000, only Energy Star models qualify
* There is a limit of $500 in tax credits for home improvements

Homeowners should also check the DSIRE website for applicable state tax credits.

Businesses can also get in on the act.  They are eligible for the hybrid vehicle incentives and incentives for energy efficient buildings.  Businesses that sell new energy efficient homes (through 2009) or efficient appliances (through 2010) can take tax credits on these products that may reduce the cost to consumers.

For more on tax credits for businesses, builders, and consumers, see Tax Incentives Assistance Project, or The Alliance to Save Energy.  Of course, you should check with your tax preparer for more information on how these credits affect you, and what paperwork needs to be completed.

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