Tax relief for energy upgrades extended!!! This will help lower the cost of energy upgrade project!
The American Taxpayer Relief Act of 2012 passed by Congress on January 3, 2013, provides extensions of energy tax credit provisions that benefit homeowners seeking energy-efficiency improvements. Under section 25C, homeowners can claim a $500 maximum tax credit to cover material costs of energy-efficient upgrades to existing homes for all taxable years. The credit is only redeemable if the upgrades are in place by the end of 2013.
If a taxpayer has claimed $500 or more of this tax credit in any year prior to 2013, they may not claim any additional credit. For those that remain eligible, the tax credit can be applied to any of the following upgrades: