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FAQs: Have Tax Credits Been Extended Into 2012?

January 6, 2012 - 4:29pm

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It hasn't been 2012 very long, and we're already getting inquiries regarding federal tax credits. Since we know everyone likes to save money and energy - preferably at the same time - here is the rundown on what you can get tax credits for, and how long you have to get them.

First, we'll answer the question: Have the 2011 federal tax credits been extended into 2012?

The short answer is, no. There have been no extensions to the federal tax credits. If that changes, however, we will update you here on the blog and on our Tax Credits for Energy Efficiency page.

Next, we'll add some clarification about the tax credits:

The Products Eligible for Tax Credits Through 2011 are documented in Part I of IRS form 5695 as "Nonbusiness Energy Property Credits." If your purchase was placed in service by December 31, 2011, you can take the tax credit for the 2011 tax year only. Products include

  • biomass stoves
  • HVAC systems
  • insulation
  • roofing
  • water heaters (non solar)
  • windows, doors, and skylights.

There are also Products Eligible for Tax Credits Through 2016. These credits are documented in Part II of IRS form 5695 as "Residential Energy Efficient Property Credit" and include

  • geothermal heat pumps
  • solar energy systems
  • wind energy systems
  • fuel cells.

Finally, there may still be Vehicle Tax Credits that you can take advantage of if you buy a highly fuel efficient vehicle. Deadlines vary by vehicle type.

See the Web pages above for details and eligibility requirements.

Thanks for asking!

Each week, you have the chance to share your thoughts on a question or frequently-asked-question about energy efficiency or renewable energy for consumers. Please comment with your answers, and also feel free to respond to other comments.

E-mail your responses to the Energy Saver team at consumer.webmaster@nrel.gov

 

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