Up to $500 in Federal 25c Tax Credits Available:
The Federal 25c Tax Credit for energy efficient heating and cooling systems was revived for 2013. It’s been extended retroactively for 2012 as well, so it could be a nice bonus for your 2012 taxes if you’ve purchased a qualifying system!
This tax credit applies to most advanced, high efficiency systems. Eligible purchases can claim up to 10% of equipment and installation cost at a maximum of $500 total.
Up to 30% in Geothermal Tax Credits Available:
Renewable Energy Tax credits are available up to 30% of the cost with NO UPPER LIMIT for homeowners who install a geothermal system. Both principle and second homes qualify (not rentals). This credit applies to units in existing homes and new construction, and expires December 31, 2016.