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Minnesota Energy Star Tax Credits

1500 Minnesota Energy Star Tax CreditsOverview

Energy Efficiency Credits

Energy tax credits help consumers overcome the sometimes high initial investment costs of energy-related equipment and products, including energy efficiency improvements and renewable energy systems. These credits were recently extended through federal legislation and will be included as part of the Federal Income Tax program. Further information is available from the Internal Revenue Service (IRS).

Renewable Energy Credits

Residential

Credits are available for qualifying energy-related improvements to existing homes at 30% of the purchase and installation cost, up to $1500, for improvements placed in service in 2009 and 2010. Equipment and products eligible for credits includes:

  • Heating, ventilation and air conditioning (HVAC) systems
  • Insulation
  • Roofs
  • Windows and doors

(Note: not all products in these categories will qualify for the tax credit. See the below websites for further details.)

Business

Credits are also available for qualifying energy-related improvements at businesses to existing and new buildings for improvements placed in service by the end of 2013. Eligible products and equipment includes: building envelope (10%), lighting (20%) and heating and cooling systems (20%).

To find out more, visit the websites listed in the “For More Information” section at the bottom of the page.

For More Information

Residential

Credits are available for the installation of qualifying renewable energy systems in existing homes and new construction at 30% (no maximum) of the cost for equipment and products placed in service on or before December 31, 2016. Equipment eligible for credits includes:

  • Small wind systems
  • Fuel cells
  • Solar panels
  • Solar water heaters

(Note: not all products in these categories will qualify for the tax credit. See the below websites for further details.)

Business

Credits are also available for qualifying renewable energy systems installed at businesses: 30% for solar, fuel cells and small wind and 10% for geothermal, microturbines and CHP. These apply to systems placed in service by 2016. There is also a production tax credit (PTC) , which varies by resource and type. It is a per kilowatt-hour credit for electricity generated by a qualified renewable energy facility and sold by the taxpayer to another party. Finally, a Modified Accelerated Depreciation System (MADS) allows businesses to recover investments in certain types of property, mainly equipment and structures. A 50% bonus depreciation provision for systems acquired and placed in service in 2008 was extended through 2009.

To learn more, visit the websites listed below.

  • Tax Incentives Assistance Project
  • Energy Star Tax Credits
  • Database of Incentives for Renewables and Efficiency
  • Internal Revenue Service (IRS)