The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. Preview Form 1040 and look at line 22 to see if you have any tax liability to apply the credit to.
Heat pumps and biomass stoves and boilers with a thermal efficiency rating of at least 75% qualify for a credit up to $2,000 per year. Costs may include labor for installation.
Qualified improvements include new:
- Electric or natural gas heat pumps
- Electric or natural gas heat pump water heaters
- Biomass stoves and boilers
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