Energy Credits

By: J. Gregory Hamm, J.D., CPA, B&R Tax Services Group

Energy Efficient Commercial Building Deduction

$1.80 or 60¢ per square foot deduction for different levels of energy cost reductions resulting from building envelope, HVAC, hot water or lighting systems compared to a 2001 engineering organization baseline.

Energy Investment Credit

30% credit for solar, fiber-optic solar, fuel cell and small wind energy property placed in service or 10% credit for geothermal, microturbine, combined heat/power systems or geothermal heat pump property placed in service.

Residential Energy Efficient Property

30% credit for the purchase of qualified solar electric property, qualified solar water heating property, qualified fuel cell power plants, qualified small wind energy property, and qualified geothermal heat pump property.

Non Business Energy Property

30% credit up to $1,500 (aggregate limit for the two years) for qualified energy-efficiency improvements (insulation, exterior windows (including certain storm windows and skylights), exterior doors (including certain storm doors), and certain metal roofs and asphalt roofs with appropriate cooling granules) or qualified residential property expenditures (includes heat pumps; water heaters; central air conditioners; biomass fuel stoves; qualified natural gas, propane, or oil furnaces or hot water boilers; and advanced main air circulating fans)

New Energy Efficient Homes Credit

$2,000 credit for homes achieving 50% savings and $1,000 for homes achieving 30% savings. 

 

Applies To

Type

Savings

Available

Energy Efficient Commercial Building

Manufacturing Plants, Warehouses, Office Buidlings

Deduction

Up to $1.80 per square foot

Before 12/31/2013

Energy Investment

Businesses

Credit

10% - 30%

Before 12/31/2016

Residential Energy Efficient Property

Home Owners

Credit

30% of qualifying expenses

Before 12/31/2016

Non business Energy property

Home Owners

Credit

Up to $1,500

Before 12/31/2009

New Energy Efficient Homes

Home Builders

Credit

Up to $2,000

Homes acquired before 12/31/2009

 

For questions, contact Gregg at ghamm@cpabr.com or 717-761-7210.

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