Fewer Credits in ‘08 for Energy-Efficient Systems

Income Taxes, Money, Personal Finance, Tax Credits, Tax Law

QUESTION: Are there deductions available for those of us who have invested in more efficient heating and cooling systems? — D.L.

 

KEVIN’S ANSWER: It depends on what you installed and when you installed it. 

 

For 2008, for example, there’s a credit worth up to $2,000 if you installed a solar water heating or photovoltaic system.

 

In the past, there have been smaller credits for installing storm windows and doors and high-efficiency furnaces and air-conditioning systems. Congress decided to let those credits lapse for 2008, but they’ll be back in 2009. Check out the Energy Star page for all the details.

Kiplinger

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