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Tax Credits

How has the new Stimulus bill affected the tax credits for energy efficient home improvements?

On February 17, 2009, President Obama signed a stimulus bill (The American Recovery and Reinvestment Act of 2009) that 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 as well.

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 $1500 for the two years (2009 - 2010).

Just Announced Virginia Residential Energy Efficiency Rebate Program.

Virginia homeowners can receive a rebate for energy efficiency improvements and retrofits (rebate amount not to exceed 20% of the cost up to $2,000 per household), plus up to $250 of the cost of having an energy audit conducted. So with the Virginia State and Federal tax credits - which Ardently Green will assist you with - a homeowner can get a basic audit and $7K of work done for $3500!

The Residential Energy Efficiency Rebate Program will provide $7 million for energy efficiency improvements and retrofits made by Virginia homeowners for replacement of major systems equipment, which may include:

Central A/C
Heat Pumps
Furnaces
Boilers
Water Heaters
Window Replacements
Insulation
Programmable Thermostats

Learn even more