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Did You Use Federal Tax Credits for Energy Efficiency Last Year?

March 11, 2014

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Report your qualifying energy-efficient home upgrades on your 2013 tax forms. | Photo courtesy of ©

Report your qualifying energy-efficient home upgrades on your 2013 tax forms. | Photo courtesy of ©

Editor's note: This is a modified repost of Erik's blog from November.

Tax day is approaching quickly, and if you took advantage of the Extended Federal Tax Credits for Energy Efficiency by December 21, 2013, you can submit a 5695 form to receive your 2013 tax credits. If you made qualifying energy-efficient home upgrades last year, don't forget to finish out the process and receive your tax credit.

For the full list of products that may have applied to this expiring tax credit, read on. If you purchased certain energy-efficient products during 2012 or 2013, you could be eligible to receive a tax credit for 10% of the cost up to $500, or a specific amount from $50-$300 for the six following product categories.

  • Biomass stoves
  • HVAC systems
  • Insulation
  • Roofing (metal & asphalt)
  • Water heaters (non-solar)
  • Windows and doors.

The products above must have been installed in an existing home or your principal residence on or before December 31, 2013.

Fortunately, that’s not all. Despite the expiring tax credit above, consumers can still apply for the following tax credits for the next three years. The product categories listed below are eligible for a tax credit of 30% of the cost with no upper limit until December 31, 2016.

  • Geothermal heat pumps
  • Small wind turbines (residential)
  • Solar energy systems.

This tax credit can be used on eligible products installed in new or existing homes, and a principal residence or second home would both qualify (but not rentals).

Finally, you may receive a tax credit for 30% of the cost, up to $500 per .5 KW of power, for residential fuel cell and microturbine systems through December 31, 2016. These can be used on new or existing homes, but only a principal residence. Second homes and rentals do not qualify.

To receive these tax credits, you will need to submit the 5695 form with your 2013 taxes. To learn more information about specific requirements for each product, as well as information on applying for these tax credits, visit ENERGY STAR®. And be sure to check out our Savings page for federal and state-specific tax credits and rebates.

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