Tax Credits for Home Improvements
April 8, 2009
Projecting what it will cost to heat your home next winter is almost as easy as projecting when your stocks will recover.
These new and crazy times give us pause and make it difficult to plan ahead. Each day brings a new twist or turn.
In tumultuous times, thoughts naturally turn to home and hearth.
A secure place to be with family, an investment you strive to care well for - from routine maintenance or energy efficiency to updating for changing needs. |
Skilled window installation and insulation lower energy costs.
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Consider this Litchfield County home.
The homeowner was looking for an alternative to maintaining the oversize family homestead year round, especially as she wasn’t always in residence.
A small cottage set apart from the main house was the perfect place for a stylish, energy efficient update better suited to a mobile individual’s needs. And, since the cottage was self-contained, guests or family could easily take up residence in one or the other building without inconveniencing the host. Hudson Valley Preservation integrated antique paneling, beams and original brick floors into the new plan.
As historic remodelers, Hudson Valley Preservation has honed the art of conservation, restoration and renovation. Knitting together 3D design and construction we help you realize your vision and grow it sustainably to suit unique and changing needs.
The really good news.
Now, all homeowners can qualify for government assistance. There’s money for energy efficiencies and home improvements you should know about.
Tax credits basically fall into two camps.
1. Energy efficiency upgrades for up to $1,500 for qualifying improvements made in 2009 and 2010 to an existing home's structural elements, like windows and insulation. Heating stoves that use renewable fuels -- wood, pellets and plants now qualify for tax credits. Not all stoves qualify. Manufacturers are scurrying to figure out which products will earn credits under the government's rules, which means testing them for various standards of energy efficiency. Certain Energy Star asphalt and metal roofing products qualify.
2. Renewable energy systems like solar water heating, wind, geothermal (heat generated from the earth) and fuel-cell technologies (which convert the chemical energy of a fuel, such as hydrogen, into electricity) may qualify for a credit of 30% for systems placed into service after 2008, with no upper limit through 2016. (Previously, it was $2,000 for solar systems.)
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| Icynene foam insulation is healthier and more energy efficient. |
A well insulated window seat is a delight year round. |
Click on the link below for more information about tax credits and qualifying appliances. Never fear. When you work with Hudson Valley Preservation you can rest assured that not only will your materials selections qualify but that they are also will also be appropriate for your specific application.
http://www.energystar.gov/index.cfm?c=products.pr_tax_credits
Or, give us a call (860)355-0906.
Laura Lurcott, Partner
Hudson Valley Preservation
And, remember, the greenest building is the one that’s already built. Next time, you’re in the market for more efficient living, call Hudson Valley Preservation - we’ll help you grow space you never thought you had!
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