An industry group, the Energy Efficiency Commercial Building Tax Deduction Coalition (www.efficientbuildings.org), was formed to expedite the implementation of the law.
Energy Bill Promotes Energy-Efficient Plumbing, Heating Appliances
The 2005 Energy Policy Act includes incentives for homeowners and business owners to upgrade to more energy-efficient plumbing and heating technology. Homeowners can take up to $300 in tax credits associated with the purchase of a qualified natural gas, propane, oil furnace or water heater, as long as the energy factor is at least 0.80 (business owners can take up to $900). There is a $150 tax credit for homeowners who purchase such a product that meets an annual fuel utilization efficiency rate of at least 95 (business owners can take up to $450). The tax breaks are available for property placed in service from Jan. 1, 2006, through Dec. 31, 2007.
Report Abusive Comment