The American Taxpayer Relief Act of 2012 retroactively renewed this tax credit effective January 2012, expiring again on December 31, 2013.\u00a0 Any qualified equipment or energy-efficient improvements installed in 2012 or 2013 is eligible for this credit.\u00a0 As in previous years, the cumulative maximum amount of tax credit that can be claimed by a taxpayer in all years combined is $500.\u00a0 If a taxpayer has already claimed a tax credit of $500 for purchases and\/or energy-efficient improvements made in any previous year, they are ineligible for additional tax credits for any new equipment purchases.<\/p>\n
The credit applies to energy efficiency improvements in the building envelope of existing homes and for the purchases of high-efficiency heating, cooling and water-heating equipment.\u00a0 In order for homeowners to qualify for the tax credit the home must be in the United States and serve as the taxpayer\u2019s primary residence.<\/p>\n
Owners of existing homes may receive a tax credit worth 10% of the cost of upgrading the efficiency of the building\u2019s envelope including adding additional insulation.\u00a0 Installation (labor) costs are not included and are capped at $500 for all improvements.<\/p>\n
The Department of Energy reports that 80% of homes built before 1980 are under insulated.\u00a0 With the passage of The American Taxpayer Relief Act of 2012, you may now qualify for a 10% tax credit up to $500 by adding Cellulose Insulation to your home.<\/p>\n","protected":false},"excerpt":{"rendered":"
The American Taxpayer Relief Act of 2012 retroactively renewed this tax credit effective January 2012, expiring again on December 31, 2013.\u00a0 Any qualified equipment or energy-efficient improvements installed in 2012 or 2013 is eligible for this credit.\u00a0 As in previous … Continue reading