January 2010, Compiled by Morgan Lashley, N.C. Association of Electric Cooperatives

• Introduction: Federal and state energy-related tax incentives
• A Few Guidelines
• 2010 Summary of Energy-efficiency Tax Credits (both federal and NC)
• Download the article as a

A few guidelines

• Unless otherwise noted, the tax credit includes cost of equipment and original installation costs.
• Must be for taxpayer’s principal residence.
• Maximum for 2009 and 2010 for all improvements combined is $1,500 (except geothermal heat pumps, solar water heaters, solar panels, fuel cells and wind power systems, see table).
• For tax purposes, the Manufacturer’s Certification Statement and receipt are generally required. For Energy Star products, save the label.
• New home construction cannot claim credits for windows, doors,
• insulation, roofs, HVAC (except geothermal), non-solar water heaters.
• For state tax credits, the allowable credit cannot exceed 50% of the taxpayer’s tax liability for the year reduced by the sum of all other credits. Unused portions of the credit may be carried over for the next five
  succeeding years.
• Verify all tax-related information with a tax advisor.