Tax Year 2009
September 19th, 1997
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Tax Year 2009
Federal Tax Credits for Energy Efficiency
On October 3, 2008, President Bush signed into law the “Emergency Economic Stabilization Act of 2008.” This bill
extended tax credits for energy efficient home improvements (windows, doors, roofs, insulation, HVAC, and non-solar
water heaters). Tax credits for these residential products, which had expired at the end of 2007, will now be
available for improvements made during 2009.
Water Heaters – Gas Water Heater (tankless water heater)
– Oil Water Heater
– Propane Water Heater
Energy Factor >= 0.82 or a thermal efficiency of at least 90%.
All ENERGY STAR gas tankless models will qualify !
Oil Furnace - AFUE >= 90 30% of cost, up to $1,500
Natural Gas Furnace
Propane Furnace Furnace – AFUE >= 95 , 30% of cost, up to $1,500
Solar Water Heating – At least half of the energy generated by the “qualifying property” must come from the sun.
Homeowners may only claim spending on the solar water heating system property, not the
entire water heating system of the household.
The water must be used in the dwelling.
The system must be certified by the Solar Rating and Certification Corporation (SRCC).
(AFUE – annual fuel utilization efficiency – Measures the amount of heat produced compared to
the amount of fuel used )
A Tax Credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-
for-dollar, while a deduction only removes a percentage of the tax that is owed.
Beginning in tax year 2009, consumers will be able to itemize purchases on their federal income tax form,
which will lower the total amount of tax they owe the government .
About the Author:
Owner: www.heaters-reviews.com
Article Source: ArticlesBase.com – GET A $ 300 TAX CREDITS FROM UNCLE SAM – Water Heaters , Furnace , Solar Water Heating
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