I have some great news to share! Congress extend a Federal Energy Tax Credit through December, 2011. There are some changes to the original Tax Credit, it is now a 10% credit with a maximum of $500 and some products and appliances now require a higher energy efficiency rating to be eligible. The new $500 limit covers the lifetime of the Tax Credit dating back to when it took effect on January 1st, 2006. This means if you used a previous form of this Tax Credit for $500 or more since 2006 you are no longer eligible for this Tax Credit.

Products and equipment that are eligible for the 10% Tax Credit include:

Insulation – up to $500
Central Air Conditioner – up to $300
Heat Pumps (HVAC & hot water equipment) – up to $300
Qualified Hot Water Heaters – up to $300
High Performance Windows – up to $200
Qualified Furnaces or Hot Water Boiler – up to $150
Advanced Main Air Circulating Fan (Furnace Fan) – up to $50

Other good news is that the Renewable Energy Tax Credit funded by the stimulus bill remains in effect until 2016. This Tax Credit is fully 30% of any service, parts and labor, for residential installations of geothermal heating and cooling, solar hot water, solar photovoltaics and wind energy. The Tax Credit is uncapped, which makes these installations more attractive than ever. Geothermal heat pumps now have a payoff period of as little as 4 or 5 years, while solar can pay off and begin producing income in just 15 years. These investments yield 4% to 6% return on investment, and make sense for many homes.

For more information about the Federal Tax Credit extension and other available incentives and financing options call us today at 1-877-MLARK78 (652-7578) or email us at info@meadowlarkenergy.com.

Thanks for reading and happy retrofitting!