2011 Energy Tax Credit Details:

  • The old generous credit titled the 2009-2010 American Recovery and Reinvestment Act (ARRA) – was allowed to expire and was not renewed.
  • The new energy efficient tax credit is only a 10% credit, up to a maximum of $500.  The prior cap had been up to $1500, which will expire on Dec 31, 2010.
  • Of that, only $200 for EnergyStar windows can be applied.
  • Furnaces are only allowed to get a $200 credit and they must now be 95% efficient, more stringent than the 90% requirement from 2009-2010.
  • Wood heating systems are eligible for a max $300 credit.
  • To reiterate, of the various programs you may take advantage of, the cap is $500 total IF you haven’t taken advantage of the credit previously.
  • Anyone that took advantage of the prior tax credits cannot utilize the credit in 2011 (no double-dipping).

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