Energy Star Products Qualify for Tax Credits Through 2016

Posted by Guest Blogger on August 2, 2014

Did you know that a variety of Energy Star products qualify for tax credits? Energy Star is a United States government division of the Environmental Protection Agency (EPA). This agency helps business and residential consumers know if the items they are purchasing meet energy mandates that help lower energy use. The following Energy Star products qualify for tax credits through 2016:

 Geothermal heat pumps:

• Geothermal heat pumps (also called Ground Source Heat Pumps) are similar to ordinary heat pumps, but use the ground instead of outside air to provide heating, air conditioning and, in most cases, hot water. Because they use the earth's natural heat, they are among the most efficient and comfortable heating and cooling technologies currently available.
• The tax credit available is 30 percent of the cost, with no upper limit. It applies to existing homes as well as new construction.
• Wright-Hennepin also provides a REBATE of $150 per ton for these systems. You may take advantage of both the federal tax credit, and Wright-Hennepin’s (WH) rebate. Information on WH’s rebate is available by visiting WH's residential geothermal ground source heat pump page.
  

·       Small residential wind turbines:

• A wind turbine collects kinetic energy from the wind and converts it to electricity that is compatible with a home's electrical system.
• The tax credit available is 30 percent of the cost, with no upper limit. It applies to existing homes as well as new construction.
  
  

·       Solar water heaters:

• Solar water heaters come in a wide variety of designs. All include a collector and storage tank, and all use the sun's thermal energy to heat water.
• The tax credit available is 30 percent of the cost, with no upper limit. It applies to existing homes as well as new construction.
  

For more information about these Energy Star products and the specific tax credit amounts, visit Energy Star's tax credit page. The information about tax credits is in the middle of the page, under the heading: “The following applies to the 3 product categories below.”