taxes

Great News for Homeowners

Taxes

The Residential Energy Efficient Property Credit can get you up to $500 with your Refund.

What Is the Residential Energy Efficient Property Credit? If you made energy saving improvements to your home during 2014 by installing an Earth-friendly energy source, you may be able to take advantage of the Residential Energy Efficient Property Credit (that's a long name for a good credit!) The credit could be worth up to 30% of the total cost of installing certain renewable energy sources in your home. It is not restricted to your primary residence (except for fuel cells), and it may be claimed for newly constructed homes. However, you must own the home (rentals do not count). All installation costs may be included. Better yet, there is no cap or upper limit on the Residential Energy Efficient Property Credit (except for on wind turbines and fuel cells--but the caps on those are generous). You can get up to $500 with your tax refund.

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