In honor of Earth Day and Tax Day 2011, a Reminder to Claim Your 2010 Residential Green Tax Credits

Did you install a qualifying EnergyStar product (not all EnergyStar products qualify for a tax credit) from one of the following categories in your primary residence on or before December 31, 2010:

• Non-solar Water Heater
• Windows
• Doors
• Metal or asphalt roof
• Insulation
• Heating/Air conditioning
• Biomass stoves
• Geothermal heat pumps
• Residential wind turbines
• Solar energy systems
• Residential fuel cells 

If so, you may be eligible for a tax creditof up to 30% of the cost. You will need your purchase receipt and the “Manufacturer’s Certification Statement” from the manufacturer certifying that the product qualifies for the tax credit. (You need to keep these for your records but you do not need to submit them with your tax return). You will also need IRS form 5695. Visit EnergyStar.gov for more detailed information.

 

If you did not install EnergyStar products in 2010 or you have not exceeded the new lifetime limits, don’t worry. Many of the green tax credits have been extended until the end of 2011 or 2016.

 

And in Florida, qualifying solar water heaters, solar space heaters, photovoltaics, and solar pool heating equipment are all sales tax exempt under Florida HB805. For more details about what products qualify, Florida Solar Energy Center’s White Paper and Tax Information Publication TIP # 05A01-05 will help.