"If you upgraded your home in 2015 by adding insulation- one of the most cost-effective upgrades you can make- you already know you are saving on your utility bills every month, plus you may be eligible for a tax credit on that investment." Says Ameeta Jain, co-founder of Homeselfe. "Not taking advantage of that is throwing away your hard-earned cash."
Jain explains that there are two types of major tax credits availible to homeowners: the Residential Energy Effecient Property Tax Credit which benefits those who have incorperated renewable energy features into their home, and the Nonbusiness Energy Tax Credits, which benefits those who have installed materials that meet the US Department of Energy's energy efficiency standards.
Homeowners who have invested in energy-effecient upgrades, such as fuel cells, geothermal heat pumps, small wind turbines, solar panels and solar-powered water heaters, may be eligible for the first credit. Homeowners who have invested in energy-effecient improvements like insulated roofing, windows, and doors may be eligible for the latter.
Tax credits up to $500 are also availible for some improvements, such as installing advanced, main air-circulating fans, a biomass stove, an energy-effecient HVAC system, or water heater, insulation, or metal or aspalt roofing.
Source
Shauna Quick
Realtor
Exit Realty Success
801-550-4419
shaunaqsellshomes@gmail.com
www.shaunaqsellshomes.com
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