Monday, December 29, 2014

Tax Incentives Extended

Several tax incentives were extended as part of the Tax Increase Prevention Act of 2014, also known as the “tax extenders package,” passed on December 19, 2014. Qualification levels from 2013 were not changed. The following energy efficiency measures are eligible for these incentives, if installed by December 31, 2014:

1. Residential energy efficiency improvements including: Windows, insulation, air sealing homes and duct sealing; Air conditioners, heat pumps, furnaces and water heaters.

2. Energy efficient new and retrofitted commercial buildings;

The new Congress will have to decide whether to extend these again to cover 2015. We will post updates on our website if there are any updates or changes.

These other four incentives remain in place and unchanged from the prior law:

1. Plug-in electric drive vehicles scheduled to extend until 12/31/16
2. Combined heat and power systems scheduled to extend until 12/31/16
3. On-site renewable energy systems including ground-source heat pumps, scheduled to extend until 12/31/16
4. Fuel cells and microturbines scheduled to extend until 12/31/16

For more info, visit:

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