Information on 2006 Tax Credits for Energy Efficient Home Improvements

This page last updated on
December 20, 2005

New Credits in 2006 for Energy Efficient Home Improvements
Claim Tax Savings of Up To $500

Under the Energy Incentives Act of 2005, homeowners may claim a lifetime credit of up to $500 for making qualifying energy-saving improvements to his or her existing home in 2006.

However, only $200 of this credit amount may be for qualifying window expenditures.

Subject to these limits, the credit equals the sum of:

(1) A ten percent credit for energy efficient improvements to the home, such as insulation, exterior windows, skylights, exterior doors, and pigmented coated metal roofs; and
(2) A credit for residential energy property expenditures in the following amounts:

$50 for each advanced main air circulating fan;

$150 for each qualified natural gas, propane, or oil furnace or hot water boiler; and

$300 for qualified energy-efficient property, such as heat pumps, water heaters, and central air conditioners that meet certain requirements.

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New Credits in 2006 for Energy Efficient Home Improvements Claim Tax Savings of Up To $500

New Credits in 2006 for Energy Efficient Home Improvements
Claim Tax Savings of Up To $500