Tax Forum
Welcome, Guest
Please Login or Register.
Lost Password?
Re posting the link to energystar site (1 viewing)
_GEN_GOTOBOTTOM Post Reply Favoured: 0
TOPIC: Re posting the link to energystar site
#148
supeheterdyne (User)
Expert Boarder
Posts: 29
graphgraph
User Offline Click here to see the profile of this user
Energy Tax Act of 2005 2006/08/20 10:53 Karma: 0  
Many people are not aware of this new tax act which allows a tax credit
for certain high efficiency energy tax products purchased during 2006 and 2007.
Access:www.energystar.gov/index.cfm?c=products.pr_tax_credits
Or enter in Google: energy tax act of 2005 or IRS Notice 2006-26 for more information.
IRS Notice 2006-53 states that siding installed after January 1, 2006 and
before December 1, 2006 can qualify for the energy credit of up to $500 IF
a manufacturer's certificate is provided. The cost of labor to install the
siding does NOT qualify for the credit.
  The administrator has disabled public write access.
#149
PRobert (User)
Senior Boarder
Posts: 18
graphgraph
User Offline Click here to see the profile of this user
Re posting the link to energystar site 2006/08/24 16:23 Karma: 0  
The tax credit summary from the site above


[size=18px]ENERGY POLICY ACT OF 2005[/size]

SUMMARY OF TAX CREDITS FOR HOMEOWNERS

Windows & Doors
Exterior Windows and Skylights ENERGY STAR qualified OR meets IECC¹ 10% of cost, up to $200² for all windows, skylights and storm windows All ENERGY STAR labeled windows and skylights qualify for tax credit. Installation costs are not included. Learn more about ENERGY STAR qualified windows and skylights.
For tax purposes, save your receipt and either the ENERGY STAR label from all your new windows OR the Manufacturer's Certification Statement.

Storm Windows Meets IECC¹ in combination with the exterior window over which it is installed, for the applicable climate zone 10% of cost, up to $200² for all windows, skylights and storm windows Manufacturer Certification Statement³ will list classes of exterior window (single pane, clear glass, double pane, low-E coating, etc.)4 that a product may be combined with to be eligible in specific climate zones.
Manufacturer's Certification Statement³ required.
For tax purposes, save your receipt and the Manufacturer's Certification Statement.

Exterior Doors Meets IECC¹ 10% of cost, up to $500² ENERGY STAR doors will almost always qualify, except for certain parts of California4. Installation costs are not included. Learn more about ENERGY STAR qualified doors.
Manufacturer's Certification Statement³ required.
For tax purposes, save your receipt and the Manufacturer's Certification Statement.

Storm Doors In combination with a wood door assigned a default U-factor by the IECC¹, and does not exceed the default U-factor requirement assigned to such combination by the IECC 10% of cost, up to $500² Eligibility will be confirmed by manufacturer and documented in the Manufacturer Certification Statement³
Manufacturer's Certification Statement³ required.
For tax purposes, save your receipt and the Manufacturer's Certification Statement.

Roofing

Metal Roofs ENERGY STAR qualified 10% of cost, up to $500² All ENERGY STAR labeled metal roofs qualify for the tax credit.
Must be expected to last 5 years OR have a 2 year warranty.
Installation costs are not included.
Manufacturer's Certification Statement³ required.
For tax purposes, save your receipt and the Manufacturer's Certification Statement.

Insulation

Insulation Meets 2000 IECC & Amendments 10% of cost, up to $500² For insulation to qualify, its primary purpose must be to insulate. (example: vapor retarders are covered, siding does not qualify).
Must be expected to last 5 years OR have a 2 year warranty
Installation costs are not included.
Manufacturer's Certification Statement³ required.
For tax purposes, save your receipt and the Manufacturer's Certification Statement.

HVAC

Central A/C EER 12.5/SEER 15 Split Systems
EER 12/SEER 14 Package systems $300² For a list of qualified products, go to the Consortium for Energy Efficiency product directory , click on the Air Conditioners and in the "CEE Tier" enter "Residential Tier 2."

Note - not all ENERGY STAR products will qualify for the tax credit. The ENERGY STAR specification is:
EER 11.5/ SEER 14 Split systems
EER 11/SEER 14 Package systems
Manufacturer's Certification Statement³ required.
For tax purposes, save your receipt and the Manufacturer's Certification Statement.

Air Source Heat Pumps HSPF 9 EER 13 SEER 15 $300² Note - not all ENERGY STAR products will qualify for the tax credit. The ENERGY STAR specification is:
HSPF 8.2 EER 11.5 SEER 14 Split systems
HSPF 8 EER 11 SEER 14 Package systems
Manufacturer's Certification Statement³ required.
For tax purposes, save your receipt and the Manufacturer's Certification Statement.

Geo-Thermal Heat Pump Same criteria as ENERGY STAR:
EER 14.1 COP 3.3 Closed Loop
EER 16.2 COP 3.6 Open Loop
EER 15 COP 3.5 Direct Expansion $300² All ENERGY STAR labeled geo-thermal heat pumps qualify for the tax credit.
Manufacturer's Certification Statement³ required.
For tax purposes, save your receipt and the Manufacturer's Certification Statement.

Gas, Oil, Propane Furnace or Hot Water Boiler AFUE 95 for both furnaces and boilers $150² For a list of qualifying products go to the Gas Appliance Manufacturing Association

Note - not all ENERGY STAR products will qualify for the tax credit. The ENERGY STAR specification is:
AFUE 90 for furnaces
AFUE 85 for boilers
Manufacturer's Certification Statement³ required.
For tax purposes, save your receipt and the Manufacturer's Certification Statement.

Advanced Main Air Circulating Fan No more than 2% of furnace total energy use $50² For a partial list of qualifying products go to the Gas Appliance Manufacturing Association
Manufacturer's Certification Statement³ required.
For tax purposes, save your receipt and the Manufacturer's Certification Statement.

Water Heaters

Gas, Oil, Propane Water Heater Energy Factor 0.80 $300² Only some tankless water heaters currently qualify. This is over 33 percent more efficient than the current federal standard.

For a partial list of qualifying products go to the Gas Appliance Manufacturing Association .

Manufacturer's Certification Statement³ required.
For tax purposes, save your receipt and the Manufacturer's Certification Statement.

Electric Heat Pump Water Heater Energy Factor 2.0 $300² This is more than twice as efficient as the current federal standard.
Manufacturer's Certification Statement³ required.
For tax purposes, save your receipt and the Manufacturer's Certification Statement.

Cars Cars Hybrid gasoline-electric, diesel, battery-electric, alternative fuel, and fuel cell vehicles Based on a formula determined by vehicle weight, technology, and fuel economy compared to base year models Guidance for auto manufacturers is available from IRS.

There is a 60,000 vehicle limit per manufacturer before a phase-out period begins. Consumers who buy from companies that already sell large numbers of qualifying vehicles will experience a relatively short "window of opportunity" for the credits.

Solar Energy Systems

Solar Water Heating At least half of the energy generated by the "qualifying property" must come from the sun. Homeowners may only claim spending on the solar water heating system property, not the entire water heating system of the household.
The credit is not available for expenses for swimming pools or hot tubs.
The water must be used in the dwelling.
The system must be certified by the Solar Rating and Certification Corporation (SRCC).
30% of cost, up to $2,000
Photovoltaic Systems Photovoltaic systems must provide electricity for the residence, and must meet applicable fire and electrical code requirement. 30% of cost, up to $2,000

Fuel Cells

Fuel Cells Efficiency of at least 30% and must have a capacity of at least 0.5 kW. 30% of the cost, up to $1000 per kW of power that can be produced
  The administrator has disabled public write access.
_GEN_GOTOTOP Post Reply
Powered by FireBoardget the latest posts directly to your desktop

Joomla Templates by JoomlaShack Joomla Templates by Compass Design