Triple Tax Credit
The new stimulus bill, recently signed by President Obama, triples energy tax credits for energy efficient home improvements.
Now is the time to repair or replace old energy systems with new efficient systems that save monthly energy costs and provide a generous tax credit to boot. When you invest in highly rated insulation, replacement windows, duct seals, or high-efficiency heating or cooling systems, you can now receive a tax credit worth 30% of the upgrade cost. The maximum credit you can receive is $1500.
Additional Tax Credits From State of North Carolina
As a homeowner in Cary NC, you can further maximize your savings by choosing projects that also qualify for a State of North Carolina tax credit. Current projects that qualify for NC tax credits are related to renewable energy sources. For a list of qualified projects, please refer to this website: North Carolina Incentives for Renewable Energy.
Any energy improvement projects that you are considering need to be installed between January of 2009 and December of 2010. Cary homeowners – you can then claim your tax credit when you prepare your income tax return for 2009 or 2010. Here are the important records you should retain to verify your credit:
- Name and address of the manufacturer
- Make and model number of the component
- Statement that the component meets the energy efficient standards
- Climate zones for which the criteria is satisfied
- Declaration that the certification statement is true
List of qualified components and projects
To view a list of components and projects that qualify for the expanded federal tax credit, please visit the Energy Star website. We would be happy to recommend qualified contractors in the Cary area who have worked with our real estate clients and done a fine job. Please call LG Real Estate at 919-653-2647 or visit our website: CaryHomesNC.com