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tax credits for energy saving devices?

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  • Henry Haynes
    We pulled our old water heater & replaced it with on-demand tankless heaters around the house. I’ve heard I can claim a tax credit for that. Is that true?
    Message 1 of 3 , Feb 8, 2009
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      We pulled our old water heater & replaced it with on-demand tankless heaters around the house.  I’ve heard I can claim a tax credit for that.  Is that true?  Does anyone have any information on that?

       

      Henry


      No virus found in this outgoing message.
      Checked by AVG.
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    • James
      I use Tax Act and for 2008 I did not find any deductions or tax credits for efficient appliances, others may have better luck. I did find that there is a 20
      Message 2 of 3 , Feb 19, 2009
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        I use Tax Act and for 2008 I did not find any deductions or tax
        credits for efficient appliances, others may have better luck. I did
        find that there is a 20 percent tax credit for money spent on
        qualified solar, wind and geothermal heat pump purchases.

        From a quick perusal (key word search) of the American Recovery and
        Reinvestment Act of 2009 (ARRA)(aka stimulus bill)I get the following:

        PART III—ENERGY CONSERVATION INCENTIVES
        SEC. 1121. EXTENSION AND MODIFICATION OF CREDIT FOR NONBUSINESS
        ENERGY PROPERTY.
        (a) IN GENERAL.—Section 25C is amended by striking subsections
        (a) and (b) and inserting the following new subsections:
        ``(a) ALLOWANCE OF CREDIT.—In the case of an individual, there
        shall be allowed as a credit against the tax imposed by this chapter
        for the taxable year an amount equal to 30 percent of the sum
        of—
        ``(1) the amount paid or incurred by the taxpayer during
        such taxable year for qualified energy efficiency improvements,
        and
        ``(2) the amount of the residential energy property expenditures
        paid or incurred by the taxpayer during such taxable
        year.
        ``(b) LIMITATION.—The aggregate amount of the credits allowed
        under this section for taxable years beginning in 2009 and 2010
        with respect to any taxpayer shall not exceed $1,500.''.
        (b) MODIFICATIONS OF STANDARDS FOR ENERGY-EFFICIENT
        BUILDING PROPERTY.—
        H. R. 1—209
        (1) ELECTRIC HEAT PUMPS.—Subparagraph (B) of section
        25C(d)(3) is amended to read as follows:
        ``(B) an electric heat pump which achieves the highest
        efficiency tier established by the Consortium for Energy
        Efficiency, as in effect on January 1, 2009.''.
        (2) CENTRAL AIR CONDITIONERS.—Subparagraph (C) of section
        25C(d)(3) is amended by striking ``2006'' and inserting
        ``2009''.
        (3) WATER HEATERS.—Subparagraph (D) of section
        25C(d)(3) is amended to read as follows:
        ``(D) a natural gas, propane, or oil water heater which
        has either an energy factor of at least 0.82 or a thermal
        efficiency of at least 90 percent.''.
        (4) WOOD STOVES.—Subparagraph (E) of section 25C(d)(3)
        is amended by inserting ``, as measured using a lower heating
        value'' after ``75 percent''.
        (c) MODIFICATIONS OF STANDARDS FOR OIL FURNACES AND HOT
        WATER BOILERS.—
        (1) IN GENERAL.—Paragraph (4) of section 25C(d) is
        amended to read as follows:
        ``(4) QUALIFIED NATURAL GAS, PROPANE, AND OIL FURNACES
        AND HOT WATER BOILERS.—
        ``(A) QUALIFIED NATURAL GAS FURNACE.—The term
        `qualified natural gas furnace' means any natural gas furnace
        which achieves an annual fuel utilization efficiency
        rate of not less than 95.
        ``(B) QUALIFIED NATURAL GAS HOT WATER BOILER.—
        The term `qualified natural gas hot water boiler' means
        any natural gas hot water boiler which achieves an annual
        fuel utilization efficiency rate of not less than 90.
        ``(C) QUALIFIED PROPANE FURNACE.—The term `qualified
        propane furnace' means any propane furnace which
        achieves an annual fuel utilization efficiency rate of not
        less than 95.
        ``(D) QUALIFIED PROPANE HOT WATER BOILER.—The
        term `qualified propane hot water boiler' means any propane
        hot water boiler which achieves an annual fuel utilization
        efficiency rate of not less than 90.
        ``(E) QUALIFIED OIL FURNACES.—The term `qualified oil
        furnace' means any oil furnace which achieves an annual
        fuel utilization efficiency rate of not less than 90.
        ``(F) QUALIFIED OIL HOT WATER BOILER.—The term
        `qualified oil hot water boiler' means any oil hot water
        boiler which achieves an annual fuel utilization efficiency
        rate of not less than 90.''.
        (2) CONFORMING AMENDMENT.—Clause (ii) of section
        25C(d)(2)(A) is amended to read as follows:
        ``(ii) any qualified natural gas furnace, qualified
        propane furnace, qualified oil furnace, qualified natural
        gas hot water boiler, qualified propane hot water boiler,
        or qualified oil hot water boiler, or''.
        (d) MODIFICATIONS OF STANDARDS FOR QUALIFIED ENERGY EFFICIENCY
        IMPROVEMENTS.—
        (1) QUALIFICATIONS FOR EXTERIOR WINDOWS, DOORS, AND
        SKYLIGHTS.—Subsection (c) of section 25C is amended by adding
        at the end the following new paragraph:
        H. R. 1—210
        ``(4) QUALIFICATIONS FOR EXTERIOR WINDOWS, DOORS, AND
        SKYLIGHTS.—Such term shall not include any component
        described in subparagraph (B) or (C) of paragraph (2) unless
        such component is equal to or below a U factor of 0.30 and
        SHGC of 0.30.''.
        (2) ADDITIONAL QUALIFICATION FOR INSULATION.—Subparagraph
        (A) of section 25C(c)(2) is amended by inserting ``and
        meets the prescriptive criteria for such material or system
        established by the 2009 International Energy Conservation
        Code, as such Code (including supplements) is in effect on
        the date of the enactment of the American Recovery and
        Reinvestment Tax Act of 2009'' after ``such dwelling unit''.
        (e) EXTENSION.—Section 25C(g)(2) is amended by striking
        ``December 31, 2009'' and inserting ``December 31, 2010''.
        (f) EFFECTIVE DATES.—
        (1) IN GENERAL.—Except as provided in paragraph (2), the
        amendments made by this section shall apply to taxable years
        beginning after December 31, 2008.
        (2) EFFICIENCY STANDARDS.—The amendments made by
        paragraphs (1), (2), and (3) of subsection (b) and subsections
        (c) and (d) shall apply to property placed in service after the
        date of the enactment of this Act.


        --- In hreg@yahoogroups.com, "Henry Haynes" <henryhh@...> wrote:
        >
        > We pulled our old water heater & replaced it with on-demand tankless
        heaters
        > around the house. I've heard I can claim a tax credit for that. Is
        that
        > true? Does anyone have any information on that?
        >
        >
        >
        > Henry
        >
        >
        > No virus found in this outgoing message.
        > Checked by AVG.
        > Version: 7.5.552 / Virus Database: 270.10.19/1938 - Release Date:
        2/6/2009
        > 5:28 PM
        >
      • William & Cynthia Stange
        I purchased and installed all my windows this year (2008) dual-glazed, low-E single-hung windows. I carelessly based half of the payment on the tax rebate
        Message 3 of 3 , Feb 19, 2009
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          I purchased and installed all my windows this year (2008) dual-glazed, low-E single-hung windows. I carelessly based half of the payment on the tax rebate check from the Bush administration, which never arrived. Had to finance out the rest of the balance-Ouch- Then the incentives for energy -savings ran out in Congress. So I could not get any tax offsets for any of my insulation or windows. But hey, my home is a lot better off now. Isn't government great? We are more or less on our own. Sorry for being pessimistic I'm just a little mad.
          I personally believe Houston could do an amazing job by helping people with solar batch water heaters and tempering valves. Saving an enormous amount of Nat. Gas.
          Bill

          --- On Thu, 2/19/09, James <jbwesselman@...> wrote:
          From: James <jbwesselman@...>
          Subject: [hreg] Re: tax credits for energy saving devices?
          To: hreg@yahoogroups.com
          Date: Thursday, February 19, 2009, 9:53 AM

          I use Tax Act and for 2008 I did not find any deductions or tax
          credits for efficient appliances, others may have better luck. I did
          find that there is a 20 percent tax credit for money spent on
          qualified solar, wind and geothermal heat pump purchases.

          From a quick perusal (key word search) of the American Recovery and
          Reinvestment Act of 2009 (ARRA)(aka stimulus bill)I get the following:

          PART III—ENERGY CONSERVATION INCENTIVES
          SEC. 1121. EXTENSION AND MODIFICATION OF CREDIT FOR NONBUSINESS
          ENERGY PROPERTY.
          (a) IN GENERAL.—Section 25C is amended by striking subsections
          (a) and (b) and inserting the following new subsections:
          ``(a) ALLOWANCE OF CREDIT.—In the case of an individual, there
          shall be allowed as a credit against the tax imposed by this chapter
          for the taxable year an amount equal to 30 percent of the sum
          of—
          ``(1) the amount paid or incurred by the taxpayer during
          such taxable year for qualified energy efficiency improvements,
          and
          ``(2) the amount of the residential energy property expenditures
          paid or incurred by the taxpayer during such taxable
          year.
          ``(b) LIMITATION.—The aggregate amount of the credits allowed
          under this section for taxable years beginning in 2009 and 2010
          with respect to any taxpayer shall not exceed $1,500.''.
          (b) MODIFICATIONS OF STANDARDS FOR ENERGY-EFFICIENT
          BUILDING PROPERTY.—
          H. R. 1—209
          (1) ELECTRIC HEAT PUMPS.—Subparagraph (B) of section
          25C(d)(3) is amended to read as follows:
          ``(B) an electric heat pump which achieves the highest
          efficiency tier established by the Consortium for Energy
          Efficiency, as in effect on January 1, 2009.''.
          (2) CENTRAL AIR CONDITIONERS.— Subparagraph (C) of section
          25C(d)(3) is amended by striking ``2006'' and inserting
          ``2009''.
          (3) WATER HEATERS.—Subparagrap h (D) of section
          25C(d)(3) is amended to read as follows:
          ``(D) a natural gas, propane, or oil water heater which
          has either an energy factor of at least 0.82 or a thermal
          efficiency of at least 90 percent.''.
          (4) WOOD STOVES.—Subparagraph (E) of section 25C(d)(3)
          is amended by inserting ``, as measured using a lower heating
          value'' after ``75 percent''.
          (c) MODIFICATIONS OF STANDARDS FOR OIL FURNACES AND HOT
          WATER BOILERS.—
          (1) IN GENERAL.—Paragraph (4) of section 25C(d) is
          amended to read as follows:
          ``(4) QUALIFIED NATURAL GAS, PROPANE, AND OIL FURNACES
          AND HOT WATER BOILERS.—
          ``(A) QUALIFIED NATURAL GAS FURNACE.—The term
          `qualified natural gas furnace' means any natural gas furnace
          which achieves an annual fuel utilization efficiency
          rate of not less than 95.
          ``(B) QUALIFIED NATURAL GAS HOT WATER BOILER.—
          The term `qualified natural gas hot water boiler' means
          any natural gas hot water boiler which achieves an annual
          fuel utilization efficiency rate of not less than 90.
          ``(C) QUALIFIED PROPANE FURNACE.—The term `qualified
          propane furnace' means any propane furnace which
          achieves an annual fuel utilization efficiency rate of not
          less than 95.
          ``(D) QUALIFIED PROPANE HOT WATER BOILER.—The
          term `qualified propane hot water boiler' means any propane
          hot water boiler which achieves an annual fuel utilization
          efficiency rate of not less than 90.
          ``(E) QUALIFIED OIL FURNACES.—The term `qualified oil
          furnace' means any oil furnace which achieves an annual
          fuel utilization efficiency rate of not less than 90.
          ``(F) QUALIFIED OIL HOT WATER BOILER.—The term
          `qualified oil hot water boiler' means any oil hot water
          boiler which achieves an annual fuel utilization efficiency
          rate of not less than 90.''.
          (2) CONFORMING AMENDMENT.—Clause (ii) of section
          25C(d)(2)(A) is amended to read as follows:
          ``(ii) any qualified natural gas furnace, qualified
          propane furnace, qualified oil furnace, qualified natural
          gas hot water boiler, qualified propane hot water boiler,
          or qualified oil hot water boiler, or''.
          (d) MODIFICATIONS OF STANDARDS FOR QUALIFIED ENERGY EFFICIENCY
          IMPROVEMENTS.—
          (1) QUALIFICATIONS FOR EXTERIOR WINDOWS, DOORS, AND
          SKYLIGHTS.—Subsectio n (c) of section 25C is amended by adding
          at the end the following new paragraph:
          H. R. 1—210
          ``(4) QUALIFICATIONS FOR EXTERIOR WINDOWS, DOORS, AND
          SKYLIGHTS.—Such term shall not include any component
          described in subparagraph (B) or (C) of paragraph (2) unless
          such component is equal to or below a U factor of 0.30 and
          SHGC of 0.30.''.
          (2) ADDITIONAL QUALIFICATION FOR INSULATION.—Subparag raph
          (A) of section 25C(c)(2) is amended by inserting ``and
          meets the prescriptive criteria for such material or system
          established by the 2009 International Energy Conservation
          Code, as such Code (including supplements) is in effect on
          the date of the enactment of the American Recovery and
          Reinvestment Tax Act of 2009'' after ``such dwelling unit''.
          (e) EXTENSION.—Section 25C(g)(2) is amended by striking
          ``December 31, 2009'' and inserting ``December 31, 2010''.
          (f) EFFECTIVE DATES.—
          (1) IN GENERAL.—Except as provided in paragraph (2), the
          amendments made by this section shall apply to taxable years
          beginning after December 31, 2008.
          (2) EFFICIENCY STANDARDS.—The amendments made by
          paragraphs (1), (2), and (3) of subsection (b) and subsections
          (c) and (d) shall apply to property placed in service after the
          date of the enactment of this Act.

          --- In hreg@yahoogroups. com, "Henry Haynes" <henryhh@... > wrote:
          >
          > We pulled our old water heater & replaced it with on-demand tankless
          heaters
          > around the house. I've heard I can claim a tax credit for that. Is
          that
          > true? Does anyone have any information on that?
          >
          >
          >
          > Henry
          >
          >
          > No virus found in this outgoing message.
          > Checked by AVG.
          > Version: 7.5.552 / Virus Database: 270.10.19/1938 - Release Date:
          2/6/2009
          > 5:28 PM
          >

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