There’s good news for consumers this tax return season. As part of the Taxpayer Relief Act, Congress has extended Federal Consumer Tax Credits for Energy Efficiency to 2013, along with making them retroactive for 2012. In addition, tax credits for geothermal heat pumps, small wind turbines, solar energy systems, and fuel cells are still available through 2016. You can get more information about this from your Miami Home Inspectors.
What does this mean for you?
If you purchased certain energy-efficient products during 2012, or plan to in 2013, you may be eligible for a tax credit.
You may receive a tax credit for 10% of the cost up to $500, or a specific amount from $50-$300 for the six following product categories.
- Biomass stoves
- HVAC systems
- Roofing (metal & asphalt)
- Water heaters (non-solar)
- Windows and doors.
The products above must be installed in an existing home or your principal residence on or before December 31, 2013.
The following three product categories are eligible for a tax credit of 30% of the cost with no upper limit until December 31, 2016. These can be used on new or existing homes, and a principal residence or second home would both qualify (but not rentals).
- Geothermal heat pumps
- Small wind turbines (residential)
- Solar energy systems
Finally, you may receive a tax credit for 30% of the cost, up to $500 per .5 KW of power, for residential fuel cells and microturbine systems through December 31, 2016. These can be used on new or existing homes, but only a principal residence. Second homes and rentals do not qualify.
To receive these tax credits, you will need to submit the 5695 form with your 2012 taxes. To learn more information about specific requirements for each product and applying for these tax credits, please visit ENERGY STAR®.
How to Make a House Energy Efficient
Your Premier Miami Home Inspection Company | Let this experienced home inspector help keep you from buying The Money Pit. We’ll alert you to any and all health or safety issues and maintenance needs of the home you’re looking to buy.
Atlantic Building Inspections will be your home buying or selling advocate! We are committed to providing you with outstanding service. We’re highly experienced and extremely thorough. If you’re looking to buy or sell in the Miami area, we can help!
Owned and operated by home inspector and mold inspection specialist, Carlos Gonzalez. Carlos prides himself in being committed to following high standards and providing professional service to all of our customers .
We Want To Help Give You Confidence In Moving Forward On Your Home Buying Decisions!