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Tax credits for energy efficiency
 

Tax credits for energy efficiency

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    Tax credits for energy efficiency Tax credits for energy efficiency Presentation Transcript

    • Raleigh Historic Districts Commission – Community Conversations
      • Introduction:
      • Scott Shackleton
      • CPA – sold Raleigh CPA firm
      • Builder – Craft Construction
      • Redeveloped/Renovated Oakwood Ave
      • Properties – www.oakwoodcottages.blogpot.com
      • Own property in Boylan Heights
    • Energy Tax Credits
      • Topic Introduction
        • Focusing on Residential Credits
        • Brief overview - Consult your own advisor
        • Don’t do something just for a tax benefit – overall planning
      • Not in the scope of this presentation, but Progress Energy offers credits for energy improvement items
    • Two Federal Tax Credit Cycles
      • 2009-2010 Energy Efficiency Credit
        • 30% Federal of Cost up to $1500
        • No NC Efficiency Credits currently available
        • Primary Residence Only
        • Existing house
        • Some include installation costs
      • Thru 2016 Renewable Energy Credit
        • 30% (Federal) of Cost (No Upper Limit), carryforward available
          • Primary and Second Homes
        • 35% (NC) subject to certain caps, 5 year carryover
          • Not limited to residence
    • 2009-2010 Energy Efficiency
      • Insulation
      • Windows & Doors
      • Roofs (Metal & Asphalt)
      • HVAC Equipment
      • Water Heaters (non-solar)
      • Biomass Stoves
      • Note: Not all items with an ENERGY STAR label qualify
    • 2009-2010 Energy Efficiency Credit
      • Existing Houses Only
      • Installation Costs Not Covered
        • Windows & Doors
        • Insulation
        • Roofs
      • Installation Costs Covered
        • HVAC Equipment
        • Water Heaters (non-solar)
        • Biomass Stoves
    • Through 2016-Renewable Energy Credit
      • Geothermal Heat Pumps
        • NC $3,500 cap
      • Solar Panels
        • NC $10,500 cap
      • Solar Water Heaters
        • NC $1,400 cap – pool heating allowed for NC, not Federal
      • Small Wind Energy Systems
        • NC $10,500 cap
      • Fuel Cells
        • NC No credit
    • Through 2016-Renewable Energy Credit
      • Existing Houses & New Construction
      • All Installation Costs Covered
        • Geothermal Heat Pumps
        • Solar Panels
        • Solar Water Heaters
        • Small Wind Energy Systems
        • Fuel Cells
    • How Do I Get the Tax Credits?
      • Placed in Service
        • 1 Jan 09 - 31 Dec 10
        • 1 Jan 09 - 31 Dec 16
      • Manufacturer Certification Statement
        • Encouraged to be on manufacturers websites
        • Collect it from installer
      • IRS Form 5695
      • NC Form 478
    • More Information
      • http://www.healthybuilthomes.org/docs/Residential_tax_credit_fact_sheet.pdf
      • ENERGY STAR Website
        • Federal Tax Credits for Energy Efficiency
          • www.energystar.gov/index.cfm?c=tax_credits.tx_index
    • Example of Impact
      • My (New) House – Just Outside Oakwood
        • Solar Photovoltaic Panels (4.7K System)
          • $28K – Buy all/Sell all system - $18,200 credit
          • Annual payments from selling power - $3,000
          • Carbon footprint – equivalent of 80 new trees per year or not driving 8,500 miles.
        • Solar Thermal
          • $14,000 – Oversized system – both Domestic Hot Water and Radiant Floor Heat
          • $4,200 federal credit; $1,400 NC Credit
          • Sun powered domestic water and heat 85% of time
        • Overall payback – 9-10 years
    • To Get Desired Benefits . . .
      • Air Seal Building Envelope
        • Floors
        • Ceilings / Rooflines
        • Walls
      • Add Effective Insulation
        • Floors, Ceilings/Rooflines, Walls
        • Attic Kneewalls
      • Consider a Home Performance Assessment
    • RHDC Community Conversations – Summary
      • Develop a plan
      • Do what you can within the constraints you have
      • Money isn’t everything
        • Comfort
        • Doing what’s right