• Home
• Business

Federal

• Homeowners get a 30 percent tax credit of as much as $1,500 for qualifying improvements they make to their homes in 2009 and 2010. Improvements include items such as insulation, exterior windows, water heaters, roofs, and heating and air-conditioning systems. Manufacturers may certify that their products qualify for the credit.
• Homeowners can install renewable energy equipment in their homes and receive a
• 30 percent tax credit for the cost, with no limit. Eligible items include solar electric panels, solar water heaters and small wind turbines.
• The credit applies up to the amount you would owe in federal income taxes. In other words, you can reduce your tax liability to zero by installing the products, but the government won't pay you extra to do it.

State

• Homeowners will receive rebates for purchase of Energy Star appliances that use less gas and electricity. Qualifying items include clothes washers, room air conditioners, dehumidifiers, hot-water heaters and gas furnaces. The amount of the rebate varies by the product purchased.
• Residents who recycle their old refrigerator or freezer when buying a more efficient model can qualify for a $30 rebate. You must be a state resident and have electricity supplied by Atlantic City Electric, Jersey Central Power & Light, PSE&G or Rockland Electric Co. There is no charge to pick up the old unit. Some other restrictions apply.
• Residents who install solar electric systems up to 10 kilowatts will receive a rebate of $1.55 per watt without an energy audit of the home and $1.75 per watt for those who have an audit.

Sources: Internal Revenue Service, New Jersey Board of Public Utilities

No comments have been posted. Be the first poster!

PressofAtlanticCity.com offers everyone the opportunity to comment on published stories. However, it is impractical for editors to screen all comments.
If you believe a comment is offensive, please click on the abuse-reporting link and your objection will be considered by an editor. We encourage participants to use their real names, but inoffensive screen names are acceptable. Comments are the sole responsibility of the person posting them.
Please post responsibly. Do not post comments that are off topic, defamatory, obscene, abusive, threatening or an invasion of privacy.
Be polite. Don’t hate. Users who don’t play by the rules may be blocked from participating.

View our full terms of service and privacy agreement

Click here to report a comment as abusive.

You must login to post a new comment