Keyword Exclusive - Stimulus tax credit
by: Karen Combs
Supplement to “Energy Efficiency”
The recent stimulus bill (the American Recovery and Reinvestment Act of 2009) made some significant changes to the energy-efficiency tax credits. The highlights are:
• The tax credits that were previously effective for 2009 have been extended to 2010.
• The tax credit has been raised from 10% to 30%.
• The tax credits that were for a specific dollar amount have been converted to 30% of the cost.
• The maximum credit has been raised from $500 to $1,500 for the two years (2009-2010). However, some improvements such as geothermal heat pumps, solar water heaters, and solar water heaters and solar panels are not subject to the $1,500 maximum.
• The $200 cap on windows has been removed.
Learn more about energy-efficiency tax credits at www.energystar.gov.
To read the Kentucky Living May 2009 feature that goes along with this supplement, go to Energy Efficiency.
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