Energize Your Wallet

eHow Money Blog

Do you deserve a $500 tax credit? Depends. Did you make any energy-saving home improvements in 2011?

Replace drafty windows or doors with energy efficient ones? Install a high-efficiency shower head? Swap an old wood-burning furnace for a new Energy Star furnace? Insulate your water heater? Install a digital thermostat?The list goes on.

Take a look and see if you home improvement project qualifies for the Nonbusiness Energy Property Credit.

The NEPC credit rate for 2011 is 10% of the total cost for “qualified energy efficiency improvements,” but the credit maxes out at $500.

If you plan on claiming the credit, the qualifying energy-saving improvements must be:
1. Located within the U.S.
2. Installed in the taxpayer’s principal residence
3. Installed and working before Jan. 1, 2012

Promoted By Zergnet


Is DIY in your DNA? Become part of our maker community.
Submit Your Work!