These are tax CREDITS, not tax deductions. 30% of the cost. Up to $1500 for
small projects, no limit for big-ticket items such as tapping geothermal
energy.

http://www.popularmechanics.com/home...t/4313237.html

HeyBub wrote:
These are tax CREDITS, not tax deductions. 30% of the cost. Up to $1500 for
small projects, no limit for big-ticket items such as tapping geothermal
energy.

http://www.popularmechanics.com/home...t/4313237.html


And just like last years giant mega subsidies for grinding up food to
make ethanol to keep the SUVs going many are just plain stupid, wasteful
and ill-conceived. But I wouldn't expect anything less from the
government. Our state will transfer your neighbor's and maybe even folks
you don't know money to you for such ridiculous projects as building a
windmill even though we are the second worst place in the US for
windmills. It is about as practical and sensible as awarding grants for
a pineapple farm even though we are in zone 5.

HeyBub wrote:

These are tax CREDITS, not tax deductions. 30% of the cost. Up to $1500 for
small projects, no limit for big-ticket items such as tapping geothermal
energy.

http://www.popularmechanics.com/home...t/4313237.html

You need to look more closely to see through the hype. I investigated
the claims of "30% tax credit with no limit" for small wind generators
(good excuse to put up a tower here and plenty of wind), but
investigating the actual IRS forms for this showed that the reality is
you can enter 30% of the total project cost on the first line, however
the credit is actually limited to $1,000 per 1kW of system capacity and
capped at $4,000 maximum (IRS form 5695). www.energystar.gov lists the
various credits and links to the IRS forms, so you can see the realities
for the various credits. They do exist and certainly if you are doing
some of these projects you can get some benefit from them, but as usual
they are not as advertised.