More clean energy tax credits for homeowners

From the U.S. Department of Energy, Energy Efficiency and Renewable Energy office, posted on 2/18/09, retrieved on Friday, March 6, 2009:

President Barack Obama signed the American Recovery and Reinvestment Act of 2009 on February 17, and the tax section of the act provides greater tax credits for clean energy projects at homes and businesses and for the manufacturers of clean energy technologies. For homeowners, the act increases a 10% tax credit for energy efficiency improvements to a 30% tax credit, eliminates caps for specific improvements (such as windows and furnaces), and instead establishes an aggregate cap of $1,500 for all improvements placed in service in 2009 and 2010 (except biomass systems, which must be placed in service after the act is enacted). The act also tightens the energy efficiency requirements to meet current standards. For residential renewable energy systems, the act removes all caps on the tax credits, which equal 30% of the cost of qualified solar energy systems, geothermal heat pumps, small wind turbines, and fuel cell systems. The act also eliminates a reduction in credits for installations with subsidized financing.

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