Tax season is just around the corner and it’s time to pay the piper. But if you were savvy enough to invest your green stuff in green stuff last year…you may not have to cough up as much at tax time. Surf over to the Federal Tax Credits for Energy Efficiency for details on all of the tax credits available to eco-conscious consumers. Here’s the rundown:
Hybrid Vehicle Tax Credits: Hybrid cars purchased after December 31, 2005 may be elegible for federal tax credit of up to $3400 depending on the make, model, and year of your ride. Check out the U.S. Department of Energy’s New Energy Tax Credits for Hybrids to see if your’s qualifies.
Energy Efficiency Tax Credits: You may qualify for a tax credit for investing in energy efficient products around your house such as insulation, a tankless water heater, exterior windows, sky lights, and exterior doors. Check out this I.R.S. Energy Policy Act fact sheet for more info.
Solar Energy and Fuel Cell Tax Credits: If you installed a solar panel, solar water heater, or fuel cell in your home last year, you may qualify for a tax credit of up to 30% of the product cost (up to $2000 for solar and $500 per 0.5kW for fuel cells).