If you missed the energy efficiency and renewable energy tax credits for 2012, fortunately, you can still take advantage of them in 2013. According to the recent energy.gov blog on the Extended Federal Tax Credits for Energy Efficiency, the majority of the appliance upgrade tax credits were continued through the end of 2013 or 2016.
The list below specifies the energy efficient home improvement and appliance additions you can make to your home in 2013 to save money on your next tax return. Application instructions for all of the Federal Tax Credits listed can be found on the ENERGY STAR® website.
Hot water is an expensive commodity, and your old water heater may be racking up your electric or gas bill on a daily basis. Heating water accounts for 14-25% of your home’s energy consumption, so a highly-efficient electric or gas water heater can save a lot of money. A new ENERGY STAR®-qualified water heater (look for the label) is eligible for a tax credit of $300, a hefty savings. [Read more...]