Tax Incentives

If you’ve been thinking about replacing your windows, getting a new heating system, or completing any other energy-efficiency project in your home or business, NOW is the time!  Earlier this year, President Obama signed a stimulus bill making significant changes to the energy efficiency tax credits available to home and business owners. Here is a brief overview of the changes made:

• The tax credits previously effective for 2009 have been extended through 2010.
• The tax credit has been raised from 10% to 30% of the cost of the project.
• The maximum credit has been raised from $500 to $1500 for the two years (2009–2010). However, some improvements such as geothermal heat pumps, solar water heaters, and solar panels have no maximum.
• The $200 cap on windows has been removed.

Here are the details regarding the type of credits available for different projects:

• Tax credits are available at 30% of the cost, up to $1,500, in 2009 & 2010 (for existing homes only) for: windows and doors, insulation, roofs (metal and asphalt), HVAC, water heaters (non-solar) and Biomass Stoves.
• Tax credits are available at 30% of the cost, with NO maximum limit through 2016 (for existing homes & new construction) for Geothermal Heat Pumps, Solar Panels, Solar Water Heaters, Small Wind Energy Systems and Fuel Cells.
• Tax credits of between $2,500 and $7,500 are available for plug-in hybrid electric vehicles. Tax credits also are available for hybrid vehicles, for both personal use and for business use.

For more information on EPUD residential programs that complement these incentives, call 746-1583 or email energyservices@epud.org

For more information on incentives and credits visit:

• Tax Credits for Consumers: energystar.gov/taxcredits
• Oregon Rebates: http://www.oregon.gov/ENERGY/
• Federal Rebates: http://www.energy.gov/taxbreaks.htm