Remodelers hoping for an extension of the energy retrofit tax credits didn’t get eveything they wanted for Christmas.
The tax bill signed into law this week does extend the credits, but at the levels they were at before the stimulus package. Homeowners can receive 10 percent of the amount they pay for qualified energy efficiency improvements, capped at $500 a year.
For the last two years, credits have been for 30 percent ,up to $1,500, for a variety of energy efficient upgrades.
There are also individual category caps:
• $200 for windows
• $50 for advanced air circulating fans
• $150 for furnaces or water heaters
• $300 for “any item of energy-efficient building property.”
The new rules also change the previous .30/.30 requirement for windows to apply to any Energy Star window, exterior door or skylight.