Home Remodeling Tax Credits

The Obama Administration wants you to make your house more energy efficient and they're willing to pay you for it. That's great news. Not only can you save money on gas and electric bills, but you can get a nice tax credit for it as well. The tax credits vary according to type of remodeling and how green the project is. Below is a quick summary of the types of green remodeling tax credits:

Home Energy Efficiency:

For energy efficient projects in the categories below homeowners can deduct 30% of the cost up to $1,500. Expires at the end of 2010.

Windows and Doors
Insulation
Biomass Stoves
Roofs
Heating, Ventilating, Air Conditioning (HVAC)
Water Heaters (non-solar)
You must be remodeling an existing home and it must be your principal residence. New construction and rentals do not qualify.
Renewable Energy

For renewable energy projects in the categories below, homeowners may deduct 30% of the cost with no upper limit. Expires at the end of 2016.

Geothermal Heat Pumps
Small Wind Turbines
Solar Energy Systems
You may be remodeling an existing home or building a new home. Both principal residences and second homes qualify. Rentals do not qualify.
Fuel Cells

For fuel cells in the categories below, homeowners may deduct 30% of the cost, up to $500 per.5 kW of power capacity. Expires at the end of 2016.

* Fuel Cells (Residential Fuel Cell and Microturbine Systems)
You may be remodeling an existing homes or building a new home. It must be your principal residence. Rentals and second homes do not qualify.
Energy Star also operates an Energy Efficient Appliance Rebate program similar to Cash for Clunkers (although you do not have to turn in your old appliance). This program is administered through the states, so the appliances that qualify and the amount of rebate vary from state to state. To find out what is available in your state, visit http://www.energystar.gov/index.cfm?fuseaction=rebate.appliance_rebate

Joaquin Erazo, Jr. is the senior vice president of marketing and public relations at Case Design/Remodeling, Inc., the country's largest home remodeling company.

Individually owned and operated, Case Remodeling franchisees employ the most highly educated and trained group of carpenters and designers in the country. Team members ask the right questions, keep your home as clean as possible during remodeling, and guarantee their remodels. One of our offices was recently named Professional Remodeler magazine's 2010 Remodeler of the Year. Isn't that the kind of company you want to work with? Find a remodeling company near you now!

(c) 2010 Joaquin Erazo, Jr

Article Source: http://EzineArticles.com/?expert=Joaquin_Erazo,_Jr.