Under the Residential Clean Energy Credit, you can get a federal tax credit for installing alternative energy equipment.
If you made energy-efficient improvements to your home, you may be able to claim the Energy Efficient Home Improvement Credit for 30% of amounts paid for qualified energy efficiency improvements, up to an annual cap of $1,200, or fixed-dollar amounts ranging from $150 to $600 for energy-efficient property.
Learn where to enter qualified energy-saving improvements in TurboTax. The following qualify for tax credits:
Biomass stoves burn biomass fuel to heat a home or heat water. Biomass fuel includes agricultural crops and trees, wood and wood waste and residues (including wood pellets), plants (including aquatic plants), grasses, residues, and fibers. Must have a thermal efficiency rating of at least 75% (measured by the higher heating value of the fuel).
Any improvement to, or replacement of, a panelboard, sub-panelboard, branch circuits, or feeders which:
- is installed in a manner consistent with the National Electric Code,
- has a load capacity of not less than 200 amps,
- is installed in conjunction with, and enables the installation and use of:
- any qualified energy efficiency improvements, or
- any qualified energy property (heat pump water heater, heat pump, central air conditioner, water heater, furnace or hot water boiler, biomass stove or boiler)
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