Though your tax returns are completed for 2008, you can start racking up tax credits for 2009 now by going green! According to the Emergency Economic Stabilization Act of 2008, and the stimulus bill recently signed by President Obama, homeowners can earn tax credits by making energy-efficient home improvements through 2010, and by adding renewable-energy technologies through 2016!
Examples of green home improvements include adding Energy Star appliances, energy-efficient metal roofing, eco-friendly insulation and energy-saving exterior doors or windows. By doing so, you can receive tax credit for 30 percent of the cost, which is up to $1,500.
Examples of renewable-energy technologies include solar water-heating systems, geothermal heat pumps, photovoltaic electricity and fuel cells. By adding one of these, you can also receive tax credit for 30 percent of the cost, with variable price returns.
For a more detailed description on these future tax credits, read this report from the Chicago Tribune.
For further assistance in turning your home into an eco-friendly, energy-efficient green home, read up on all of Buy Owner’s Green Living information here.
Specifics to check out-