2009 Tax Credits for Connecticut Energy Saving Home Improvements

November 11th, 2008 categories: Central Connecticut News & Information, Home Owners

Courtesy of the bailout bill, homeowners can take advantage of several federal tax credits to help save energy and encourage conservation or the use of alternative energy sources.

The credits include:

10% credit (up to $500) for installing insulation

10% credit (up to $500) for exterior and storm doors

10% credit (up to $200) for window/skylight/storm windows

30% credit (up to $2000) for solar water heating system

30% credit (up to $2000) for geo-thermal heat pump system

There are also credits for certain types of roofs, furnaces and boilers, and biomass stoves.  For full details on these credits, visit the Energy Star website.

There are also some rebates available through the State of Connecticut. For example, you can qualify for a rebate on a replacement furnace of up to $500 (rebate is on a sliding scale based on adjusted gross income).

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This entry was posted on Tuesday, November 11th, 2008 at 9:58 am and is filed under Central Connecticut News & Information, Home Owners. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. SA said at November 11th, 2008 at 11:03 am

   I have claimed the Federal tax credits for energy efficient improvements (21 new low E windows, furnace, water heater, attic insulation) and it was worth it last year. I would not exaggerate your claims and keep proper documentation (receipts), if you get audited it’s tax fraud.

   I also replaced my boiler last winter and did the state tax rebate program. It took the people in OPM 4 months to process it, I had basically given up. Got a check last week for $400 after mailing the application and documents in, notarized and everything, back on August 4.

   …BUT, just wait until Home Depot and Lowes are hurting for business after Christmas. If you can get 25% off windows, for example, that is worth more than what the federal tax benefits are.

   Want to save even more? Do all of it YOURSELF. Attic insulation is totally brainless, just find some good articles online for R value ratings and tips/techniques. Windows are quite easy and you can save around $100 each window in installation labor. Storm doors are as easy as putting together a gas grill. Even the hot water heater was a 1 hour job for me, and I was converting from oil to electric.

   Unfortunately, I’ve noticed more and more plumbers/contractors trying to rip people off as their business dries up on new construction jobs. A certain local water/plumbing company in south central CT quoted my co-worker over $800 to replace a water pressure tank yesterday. The tank sells for $150 at Home Depot and has one pipe to install. Be wary, shop around.

2. Jessica said at November 11th, 2008 at 11:47 am

   Great advice. I don’t have any personal experience with these credits/rebates (not surprised about how long it takes) so thanks for sharing.

3. Shawn said at November 12th, 2008 at 5:23 am

   Thanks for the information. Sometimes we forget about all these ways to lessen our burdens(in this case spend a little to save a little).

   I’m in S. Florida so I’ll have to check out what’s going on here as far as rebates and tax savings.

   Thanks

4. SA said at November 14th, 2008 at 8:25 am

   Federal energy Efficieny Tax Credits:
   http://www.energystar.gov/index.cfm?c=products.pr_tax_credits

   State of CT Boiler/Furnace Rebate Program:
   http://www.ct.gov/opm/cwp/view.asp?A=2994&Q=420476

   Current Home Heating Oil Ny Spot Prices:
   (Add about 60 cents/gallon for current retail price.)
   http://www.connecticutgasprices.com/homeoil_chart.aspx

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