Energy conservation federal tax credits for 2012

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According to the Bureau of Labor Statistics, those who live in Atlanta in September of 2012 paid 7.5...

According to the Bureau of Labor Statistics, those who live in Atlanta in September of 2012 paid 7.5 percent more than the standard U.S. city average for electricity and 40.7 percent more for piped gas. Clearly, Atlanta residents can benefit from increasing energy conservation and lowering costs. There are a couple federal tax credits, according to the Energy Star website, for energy conservation. These credits are good for the year 2012 for the implementation of energy efficient appliances and systems.

Fuel cell credit

For residential fuel cells and microturbine systems, there is a tax credit of 30 percent of the cost of the systems up to a limit of $500 per 1/2 kW of power. This credit is good until December 31, 2016 and is for principal existing homes or new construction builds. Rentals and secondary homes are not qualifying residences for this credit.

Heat pump credit

Until December 31, 2016, there is a tax credit of 30 percent of the cost of geothermal heat pumps with no upper limits when used in an existing home or a new construction. Rental properties will not work for this credit; it must be a principal or secondary home to qualify. Check with your tax professional for particulars.

Solar credit

For solar energy systems, until December 31, 2016, there is a tax credit of 30 percent of the cost of the system with no limit. It is for primary and secondary existing or new construction homes. Rental property will not qualify.

Wind turbine credit

There is a tax credit of 30 percent of the cost of putting in a residential small wind turbine to an existing or new construction home build. This credit is good until December 31, 2016 on both primary and secondary homes. It is not good for rental property. There is no upper limit to the credit.

Atlanta HVAC techs can help answer your questions about these and possible other tax credits that help benefit energy conservation.

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