New Stimulus Bill Expands Federal Energy Credits
By Maureen Megowan, Palos Verdes Real Estate Blog
(Remax Estate Properties - )
The new Stimulus Bill recently signed by President Obama in 2009 includes an expansion of the Federal Energy Credits for certain home improvements that are made that meet certain energy savings criteria. Highlights of the changes include: The tax credits that were previously effective for 2009, have been extended to 2010 as well. The tax credit has been raised from 10% to 30%. The tax credits that were for a specific dollar amount (ex $300 for a CAC), have been converted to 30% of the cost. The maximum credit has been raised from $500 to $1500 for the two years (2009-2010). However, some improvements such as geothermal heat pumps, solar water heaters, and solar panels are not subject to the $1,500 maximum. The $200 cap on windows has been removed. must be "placed in service" from Janua...
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