Over the last several years, the federal government has offered a variety of tax credits for residential energy efficiency and renewable energy improvements. These federal tax credits are important because they are a dollar-for-dollar deduction from taxes owed to the U.S. Government.
Below are some highlights of these credits: (Please consult a qualified tax professional when referencing this information for tax purposes.)
- Tax Credits on renewable energy systems remain unchanged. They are 30% tax credit with no maximum and are valid until 2016.
- Tax Credits available for the residential energy efficiency improvements listed below expired at the end of 2011 and are NOT available in 2012. However, this list may be a helpful reference for those preparing 2011 Income Tax returns:
- Biomass Stoves: $300 tax credit
- HVAC Systems: $50-$300 tax credit
- Insulation: 10% up to $500
- Roofs: 10% up to $500
- Water Heaters: $300
- Doors: 10% up to $500
- Windows: 10% up to $200
- Depending on the improvement, installation costs may or may not be included.
- Not all EnergySTAR certified products are eligible.
- If in previous years you received more than $500 in federal tax credit for energy efficiency improvements, you are ineligible for the tax credits offered in 2011.
For additional information, please see Federal Tax Credits for Consumer Energy Efficiency.
For information, contact:
Eric Steltzer, Energy Policy Analyst
NH Office of Energy and Planning
Governor Hugh J. Gallen State Office Park
Johnson Hall, 3rd Floor
107 Pleasant Street
Concord, NH 03301
Telephone: (603) 271-2155