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Tax credits are available at 30% of the cost, up to $1,500, in 2009 and 2010 (for existing homes only) for:
The $1,500 maximum tax credit is for all of these improvements combined and for both 2009 and 2010 combined.
Under IRS rules, manufacturers need to certify that specific measures are eligible. Homeowners should obtain a copy of this certification from the manufacturer, installer, or retailer when buying these products. Certifications need not be submitted to the IRS, but should be kept on file in case the IRS has questions.
To claim the tax credit, file IRS Form 5695 with your federal taxes. For more details, go to the Federal Tax Credits for Energy Efficiency Web page.
Property tax credits up to $250 in any single tax year are available for the installation of eligible energy-efficiency devices. For an application or for more information, go to the Montgomery County, Maryland Department of Finance Web site (look under "Renewable Energy Tax Credit"—there is a single application for both the Renewable Energy tax credit and the Energy Conservation Devices tax credit) or call 240-777-8931.
Unlike most tax incentive programs, this is a dollar-for-dollar credit—if you spend $250 on energy conservation, you get a $250 property tax rebate.
For installation of on-site renewable energy (solar photovoltaic, solar hot water, small wind systems, fuel cells, and geothermal heat pumps), the federal tax credit is 30% of the cost of equipment, but unlike the credit for energy efficiency, new construction and existing homes are both eligible and there is no cap. This credit is available through 2016.
To claim the tax credit, file IRS Form 5695 with your federal taxes. For more details, go to the Federal Tax Credits for Energy Efficiency Web page.
The Maryland Energy Administration administers a Residential Clean Energy Grant Program, with benefits as follows:
To apply for a grant, go to the Residential Clean Energy Grant Program Web page or call 1-800-723-6374. This page also contains forms needed to apply for a grant and other information related to solar energy installation.
Photovoltaic devices or geothermal heat pumps
Property tax credits up to $5,000 (or 50% of cost, whichever is less) are available for the installation of solar photovoltaics (PV) or geothermal systems. For fiscal year July 1, 2009 to June 30, 2010, tax credits will be available up to $250,000. For an application or for more information, go to the Montgomery County, Maryland Department of Finance Web site.
For completed solar or geothermal projects, submit an application to the Department of Finance, Division of Treasury, 255 Rockville Pike, Suite L-15, Rockville, MD 20850, to be placed in queue for a property tax credit.
Solar hot water systems
Property tax credits up to $1,500 (or 50% of cost, whichever is less) are available for the installation of solar hot water systems. For an application or for more information, go to go to the Montgomery County, Maryland Department of Finance Web site or call 240-777-8931.
The program provides monetary rewards for purchasing clean energy (wind, solar) from energy suppliers or renewable energy certificate (REC) marketers, or for the generation of clean energy on-site. Residents and businesses can sign up for one of the approved energy suppliers or REC marketers and receive a reward, half a cent ($0.005) for each kilowatt-hour (kWh) of program certified clean energy used. The reward is included on the energy bill, or it will be discounted when the REC's are purchased. Electric bills that are paid as part of renting or leasing are also eligible for clean energy. For more information or to sign up, go to the Clean Energy Rewards Web page.
Residents and businesses can also learn more about State and Federal incentives and tax credits through the Database of State Incentives for Renewables and Efficiency Web site.
Smart Growth and Transportation
Seven Easy Steps to Reduce Energy Consumption
Subsidies for Energy Conservation and Installation of Renewable Energy
