AUSTIN RESIDENTIAL ENERGY EFFICIENCY LOAN PROGRAM


CITY OF AUSTIN RESIDENTIAL REBATES AND INCENTIVES

COMMERCIAL INSULATION REBATE

FEDERAL TAX CREDITS, CITY ENERGY REBATES AND LINKS. ADD INFO ON SAVING MONET WITH FOAM "ENVELOPE".

As a part of the Emergency Economic Stabilization Act of 2008, tax credits Home Improvement for energy efficient home improvements (windows, doors, roofs, insulation, HVAC, and non-solar water heaters) became available for taking on your federal tax return. Tax credits for these residential products, which had expired at the end of 2007, will now be available for improvements made during 2009. However, improvements made during 2008 are not eligible for a tax credit.

· The tax credit for Insulation is subject to a $500 maximum per homeowner for all improvements combined. Your credit is limited to 10% of cost, up to $500. The maximum amount that a taxpayer may claim from all of these types of tax credits combined is $500 over the lifetime of the tax credit (2006, 2007 & 2009). ^.

· Insulation must meet 2000 IECC & Amendments.

· For insulation to qualify, its primary purpose must be to insulate. (example: vapor retarders are covered, siding does not qualify).

· Must be expected to last 5 years OR have a 2 year warranty

· Installation costs are not included.

· You must have a manufacturer's Certification Statement. A Manufacturer’s Certification is a signed statement from the manufacturer certifying that the product or component qualifies for the tax credit. The IRS encourages manufacturers to provide these Certifications on their website to facilitate identification of qualified products. Taxpayers must keep a copy of the certification statement for their records, but do not have to submit a copy with their tax return.

· For tax purposes, save your receipt and the Manufacturer's Certification Statement.

Must be "^{placed into service" between Jan. 1–Dec. 31, 2009. To place in service is when the insulation is ready for use.}

For More information click ^{here for IRS publication information or HERE for energystar information or contact your accountant.}