Get Credit Where Credit's Due

(HIT) - Planning any home improvements in 2007? If they’re of the energy-saving type, you could be eligible for a tax credit from the federal government, according to Edison Electric Institute. The Energy Policy Act, passed in 2005, offers a number of valuable tax credits on energy-saving appliances and materials for the home, including:

• Air Conditioning Systems—$300
• Geothermal Heat Pumps—$300
• Furnaces—$150
• Water Heaters—$300
• Building Materials (insulation, weatherstripping)–10 percent of cost, up to $500
• Windows—$200/Doors—$500
• Air Circulating Fan—$50

Tax credits are also being offered on solar photovoltaic and solar thermal systems (30 percent of cost, up to $2000 on each). Note that the maximum tax credit you can receive for all measures is $500, and that all the tax credits expire on January 1, 2008. To find out all the details about energy efficiency tax credits, please visit www.energytaxincentives.org.

For a free booklet, "More than 100 Ways to Improve Your Electric Bill", as well as information about making your entire home more energy efficient, please visit www.eei.org/wiseuse.

Courtesy: Home Improvement News and Information Center