Residential Tax Credit Details
Larger Tax Credit
For qualified improvements homeowners may be able to claim tax credits equal to 30% of the installed costs (up to $1,500)
Longer Term
The new tax credits are retroactive to January 1, 2009, and expire on December 31, 2010. The $1,500 limit is for all improvements made during the two year term, not $1500 each year.
Per-Appliance Caps Removed
Homeowners may use the entire $1,500 tax credit limit on a single qualifying improvement. The previous per-appliance caps that limited the homeowner to just $150 for a high efficiency furnace or $300 for a high efficiency central air conditioner or heat pump have been removed.
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