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Credits for Homeowners: There are different levels of credit depending on the type of improvement made, but the maximum amount of homeowner credit for all improvements combined cannot exceed $500 during the two year period of the tax credit. This tax credit applies to improvements made from January 1, 2006 through December 31, 2007.
Eligible measures are:
Added insulation to walls, ceilings, or other part of the building envelope Replacement windows High-efficiency gas, oil, and propane furnaces and boilers High-efficiency central air conditioning units, including air-source and ground-source heat pumps High-efficiency fans for heating and cooling systems High-efficiency water heaters, including heat pump water heaters
Incentive amounts are:
Added insulation: 10% of cost up to $500 Replacement windows: 10% of cost up to $200 Furnaces and boilers: $150 for qualifying units Central air conditioning units: $300 for qualifying units Fans for heating and cooling systems: $50 for qualifying units Water heaters: $300 for qualifying units