On December 17, 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of
2010. This
law extends the tax credits for energy efficiency into 2011, BUT at lower levels. The levels revert back to those in effect
in 2006 and 2007, which were 10% of the cost of the improvement, up to $500, with a $200 max for windows, and several other
set maximums. Highlights:
· $500 lifetime limit. If you got over $500 in these tax credits
from 2006 - 2010, you are not eligible for anything more.
· 10% up to $500 for insulation, roofs, and doors.
· Windows capped at $200, but qualification now ENERGY
STAR
· Furnace and boilers capped at $150, and all furnaces and boilers must meet 95 AFUE
·
$50 for advanced
main air circulating fan
· $300 for air conditioners, air source heat pumps, water heaters, and biomass stoves