Isn’t it wonderful when the government decides to help you out with a little free cash? Not only are a sizable portion of our recent & upcoming [tag]renovation[/tag]s being funded via a loan with a very favorable rate, a lot of it also meets or exceeds the specs necessary to qualify for a [tag]tax credit[/tag] under the [tag]Energy Policy Act of 2005[/tag].
Most of the people who’ve heard of this act at all know of it as the credit-for-[tag]hybrid[/tag]-cars act. But it also gives you all kinds of opportunities for cutting the cost of all kinds of home improvements that meet certain specifications. For instance, you can qualify for a credit of up to:
- 10% on windows, doors, metal roofs, or insulation
- $300 for heat pumps or hot water heaters
- $150 for furnaces or boilers
- $50 for main air circulating fans
Unfortunately, the [tag]home improvement[/tag] portion maxes out at $500 total for the two-year life of the act (which goes through December 31, 2007). If I’m calculating it right (and with federal income tax law, who really knows until the final form is actually released), we’re just shy of that total already, and the heat pump installation hasn’t even started (ours is going to be efficient enough to be a straight $300 addition).
Ah, well, complaining because we’re not getting even more [tag]free money[/tag] than we already will, seems just a little greedy… 
