Did You Make Energy Improvements in 2011?

Energy Saver's Blog has some timely information on what qualifies for tax credits as you prepare your 2011 returns. :

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.