Unfortunately, no.
There are credits for two types of energy property that you can place
into service:
Nonbusiness Energy Property - If you placed property into service like
doors, windows, insulation, water heaters, etc..
- The
maximum credit for this type of property is $500, no matter how much you
spend. It is calculated as 10% of the amount paid for the property,
limited to $500.
- The amount
of credit allowed is limited to the amount of your tax liability. Also,
this is a non-refundable credit and it is not carried forward to future
years.
Residential Energy Efficient Property - If you placed items into service
like qualified solar electric property, solar water heaters, small wind energy
property, geothermal heat pump property, and fuel cell property.
- The credit
is 30% of your costs. Include any labor costs associated with
onsite preparation, assembly, or original installation of the residential
energy efficient property and for piping or wiring to interconnect the
property to the home. The credit amount for costs paid for qualified fuel
cell property is limited to $500 for each one-half kilowatt of capacity of
the property.
- The amount
of your credit allowed is limited to the amount of your remaining tax
liability after any current year residential energy property (doors,
windows, etc.). If the remaining tax liability is less than your credit
amount, any amount not used to bring your tax liability down to zero, will
be carried forward to the next year.
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