Energy Credit

Can I get a tax break for putting energy-efficient windows in my home?  Yes, a limited credit is available if you install them by Dec. 31.  The tax law extended through 2016 the credit for energy- saving items added to one’s residence, such as windows, insulation, roofs and doors.  It stays at 10% with a $500 maximum.  Any credits taken in prior years count against the $500.  And many items are capped.  No more than $50 for circulating fans, $150 for furnaces, and $200 for windows.

What if I add solar panels?  You can claim a credit for 30% of the total cost.  For solar energy systems installed in a residence, the full credit applies through 2019 and then phases out until it ends after 2021.  The break for geothermal heat pumps, residential wind turbines and fuel cell property currently expires after this year.

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