Rebates Coupled with Tax Incentives March 10, 2009 Insulation Atmos Energy Customers: Rebate of $1k or 50% of cost. For eligibility details see http://excessisout.com/files/insulation_rebate.pdf 4CORE GEO Rebate 20% or $300, whichever is less Tax Credit must be “placed into service” between January 1, 2009 and December 31, 2010: 30% of cost, up to $1,500 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. 3 Manufacturer's Certification Statement required. For tax purposes, save your receipt and the Manufacturer's Certification Statement. Use IRS Tax Form 5695 (version 2009). Residential Solar Thermal Rebates Orphan Hot Water System Assessments: The assessment fee from the installers will be negotiated within the range $150 to $225. If the homeowner chooses to have the needed repairs implemented, then the fee is included in the total cost. If the homeowner chooses not to do the repairs, then the homeowner pays 50% of the fee and the program will rebate the other 50%. Orphan Hot Water System Repairs: Rebates for 30% of the total repair cost (note: the total repair cost includes the assessment fee) up to $3,000 for residents who heat their water with electricity or natural gas/propane; designed to assist homeowners who wish to reactive, upgrade or restore an older solar hot water system. Residential Solar Hot Water (SDHW): Rebates for $1,500 or $3,000 for residents who heat their water with natural gas or propane (4CORE provides rebate checks) or electricity (4CORE administers program; LPEA provides rebate checks). Who is Eligible? For new systems, homeowners must be Colorado residents and install their system on a home that is their primary, year-round residence. For "orphan" systems, that is systems in need of repair/retrofit/upgrades, homeowners must be Colorado residents and the home may be a primary, second or rental home. Tax credits Qualified solar water heating and photovoltaic systems: The credits are available for systems “placed in service” from January 1, 2006 through December 31, 2016. The tax credit is for 30% of the cost of the system, up to $2,000. After December 31, 2008, this $2,000 cap no longer applies. This credit is completely separate from the $500 home improvement credit. At least half of the energy generated by the “qualifying property” must come from the sun. Homeowners may only claim spending on the solar water heating system property, not the entire water heating system of the household. The credit is not available for expenses for swimming pools or hot tubs. The water must be used in the dwelling. The system must be certified by the Solar Rating and Certification Corporation (SRCC). Business Solar Thermal Rebates Small Business Solar Hot Water (SHW): Rebates for 30% up to $9,000 for small businesses that heat their water with electricity or natural gas/propane. Business owners may reside out-of-state. Tax Credits Eligible systems placed into service on or before December 31, 2016. The credit is equal to 30% of expenditures, with no maximum credit limit stated. Eligible solar energy property includes equipment that uses solar energy to generate electricity, to heat or cool (or provide hot water for use in) a structure, or to provide solar process heat. (Passive solar systems and solar pool-heating systems are not eligible.) Hybrid solar lighting systems are those that use solar energy to illuminate the inside of a structure using fiber-optic distributed sunlight. Tax Deductions for Commercial Buildings A tax deduction of up to $1.80 per square foot is available to owners or designers of new or existing commercial buildings that save at least 50% of the heating and cooling energy of a building that meets ASHRAE Standard 90.1-2001. Partial deductions of up to $.60 per square foot can be taken for measures affecting any one of three building systems: the building envelope, lighting, or heating and cooling systems. These tax deductions are available for systems “placed in service” from January 1, 2006 through December 31, 2013. Tax Credits for Home Builders Home builders are eligible for a $2,000 tax credit for a new energy efficient home that achieves 50% energy savings for heating and cooling over the 2004 International Energy Conservation Code (IECC) and supplements. At least 1/5 of the energy savings must come from building envelope improvements. This credit also applies to contractors of manufactured homes conforming to Federal Manufactured Home Construction and Safety Standards.
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