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2011 Rebates Update: Heating & Cooling

Home Heating & Cooling Equipment

What are the incentives for home heating & cooling equipment?

Please note that these incentives have changed as of February 17, 2009. If you installed home envelope components between January 1 and February 16, 2009, click here.

Purchasers of highly efficient heating, cooling, and water heating equipment can take tax credits of 30% of installed cost for purchasing qualifying equipment, as detailed below. These credits are available for systems placed in service from January 1, 2009, through December 31, 2010. There is a $1,500 cap on the credit per home, including the amount received for insulation, windows, air and duct sealing.

Congress extended this provision for 2011 with some modifications to eligibility requirements, and reductions in the cap to $500 per home. The $500 limit applies to heating and cooling equipment and to building envelope improvements, and applies to all years – if you received a credit in 2009 of $500 or more, you cannot receive it again in 2011. In addition, there are some instances where there is a cap on a specific product, see equipment descriptions’ links below for details.

2011 Rebates Update: Solar

Solar Energy Systems

What are the tax incentives for solar systems?

Homeowners are eligible for tax credits for qualified solar water heating and photovoltaic systems. Solar water heating systems produce hot water, photovoltaic systems produce electricity (including solar fans). The credits are available for systems “placed in service” at any dwelling unit, not necessarily the primary residence, between January 1, 2006 and December 31, 2016.

Note: This is a basic guide to the credit. For more detailed information, go to www.seia.org and download SEIA’s FAQs regarding the new legislation.

Who is eligible for the tax incentives?

The tax credits go to businesses that install solar equipment for their use, and to individuals who install qualifying systems on homes they use as a residence (unlike other consumer incentives, the dwelling does not have to be the taxpayer’s primary residence – second homes are eligible, although rental properties are not).

2011 Rebates Update: Wind & Geothermal Systems

Small Wind Systems

What are the tax incentives for on-site wind systems?

On October 3, 2008, the Emergency Economic Stabilization Act of 2008, H.R. 1424, was enacted into law and includes a new federal-level investment tax credit to help consumers purchase small wind turbines for home, farm, or business use. Owners of small wind systems with 100 kilowatts (kW) of capacity and less can receive a credit for 30% of the total installed cost of the system. The credit will be available for equipment installed through December 31, 2016. This legislation marks the first federal incentive for small wind systems since 1985. The incentive was further expanded through the American Recovery and Reinvestment Tax Act of 2009, which removed the financial cap that had been present in the 2008 legislation..

Who is eligible for the tax incentives?

Home-owners, farmers, and businesses that install wind turbines with not more than 100 kilowatts of nameplate capacity are eligible for the incentive.

2011 Rebates Update: Fuel Cells

What are the tax incentives for fuel cells?

These incentives are tax credits for two advanced distributed generation technologies: qualifying fuel cell and microturbine systems. Fuel cells generate electricity through a chemical process. They are somewhat similar to batteries, except fuel must be fed continuously to them. Microturbines are small power generation systems using a gas turbine engine, based on related turbines used in transportation. The credits are available for systems “placed in service” prior to December 31, 2016.

Who is eligible for the tax incentives?

Individuals are only eligible for the fuel cell tax incentive, while businesses can also apply for an incentive for microturbines.

Latest news on Home Star

Senate Democrats punt on spill bill
By CORAL DAVENPORT | 8/3/10 3:38 PM EDT

Senate Democrats on Tuesday punted their oil spill response bill to next month, but the extra time doesn’t guarantee the measure will pass — far from it.

The delay virtually ensures that strategists from both parties will use the congressional recess to hone their plans, talking points and poison-pill amendments for any floor debate, all with an eye toward the midterm elections.

Majority Leader Harry Reid’s decision to pull the plug on offshore drilling is the latest blow to Democratic efforts to move energy legislation, beginning with the deaths of a sweeping climate change bill and then a scaled-down renewable energy bill.

Some Democrats and environmentalists said they are optimistic the extra time will allow them to revisit the broader renewable energy provisions they had to jettison earlier, in hopes of folding them into the drilling bill.