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Making your home energy efficient and getting tax credits

April 8, 2015
by dmirza

It’s tax season, which means millions of people are filing their taxes in hopes they’ll get money back instead of having to owe it. If you made any energy efficiency improvements to your home, there’s a good chance you’ll be getting some cash back, or at the very least owing less. Many home improvement projects result in tax credits, which can be used to pay taxes come April 15.Making your home energy efficient and getting tax credits

Tax credits are issued for fulfilling certain conditions or purchasing or upgrading certain equipment. Some of the conditions include purchasing a biomass stove, upgrading HVAC systems, installing insulation, installing a new metal and asphalt roof, or upgrading water heaters, windows, or doors. You can also receive tax credits on future filings for things like geothermal pumps, small wind turbines, solar energy systems, and fuel cell technology.

Alternatively, some items may not be covered by tax credits, but can instead net you a rebate. There are no federal rebates, but some cities, states, or utilities offer rebates for upgrading energy efficiency. Other incentives include free home energy audits that show where improvements need to be made in your home. The best course of action is to look online for rebates, incentives, and tax credits available for items you’ve purchased or improved last year or plan to make this year.

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