Take advantage of federal tax incentives when you make energy efficient upgrades in 2012.
Tax Credit Amounts for Specific Improvements
According to EnergyStar.gov, a tax credit can be claimed for 30 percent of the cost of installing a geothermal heat pump, small wind turbine or solar energy system in your home. The credit has no upper limit and applies to both existing homes and new construction, but not to rental properties. This credit is good until Dec. 31, 2016. You can also get a credit of up to 30 percent of the cost of residential fuel cells, up to $500 per .5kW of power capacity This credit is also available until Dec. 31, 2016.
While the initial cost of these improvements may seem significant, they can dramatically decrease home energy bills in the long run.
