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Eligible Tax Credits

Tax credits that expired in Dec 2007 are still good for improvements made during 2009.


Meaning qualified items purchased prior to January 1, 2009 are OK ---IF--- products are 
placed into service ”* between January 1 – December 31, 2009.

Obamas New Tax Credits - 30% off the Top

The “Emergency Economic Stabilization Act of 2008” was signed into law on October 3, 2008. It is an extension to the Energy Policy Act of 2005, creating tax credits for energy efficient home improvements (doors, insulation, windows, HVAC, solar water heaters and tankless water heaters).

So even though you bought them a while ago, the law sees it as when they were actually “ placed into service*

Go install them in 2009 and get the credits.

    *The IRS defines “ placed into service” as when the property is ready and available for use – this generally refers to the installation, not the purchase. (www.energystar.gov)

Eligible Tax Credits for Consumers

Home Energy-Efficiency Improvement
A one-time income tax credit of up to $500 in total for installing efficient new windows, insulation, doors, roofs and heating and cooling equipment in your home.

(Taxpayers who claimed some but not all of the $500 federal income tax credit for energy efficiency home improvements that was in effect in tax years 2006 and 2007 may utilize the unused portion in 2009.)

    1.) Whole - Home Gas Tankless Water Heaters: Up to $300.
    Stiebel Eltron DHC-E 20 Tankless Electric Water Heater

    Geothermal Heat Pumps, Solar Photovoltaic Cells, Solar Water Heaters, Fuel Cells : 30% of cost, up to a maximum credit of $2,000. The heat pump must be “placed in service” between January 1, 2008 and December 31, 2016. Only ENERGY STAR geothermal heat pumps are eligible.
    Geothermal Heat Pumps: A Guide for Planning and Installing
    Performance of Solar Energy Converters: Thermal Collectors and Photovoltaic Cells

    2.) Exterior windows, skylights, storm windows :
    10% of the total cost, up to $200


    3.) Insulation, exterior doors, roofs : 10% of the cost of the product (excluding installation), up to $500. Includes seals to limit air infiltration, such as caulk, weather stripping, and foam sealants, as well as storm doors.
    Popular Mechanics Weatherproofing & Insulation

    4.) Central air conditioner, heat pump, water heater, or bio gas (i.e., corn) stove : Up to $300 towards the full purchase price, including installation costs. Starting in 2009, geothermal heat pumps are instead eligible for a separate tax credit for 30% of the cost up to a maximum credit of $2,000.


    5.) Furnace or boiler : Up to $150 towards the full purchase price, and/or $50 for an efficient air-circulating fan in a furnace, including installation cost.

    6.) To be eligible for the federal tax credits: Whole-home tankless water heaters must have a minimum energy factor (EF) of 0.82. All ENERGY STAR qualified whole-home gas tankless and gas condensing models will qualify.

    7.) Natural gas, propane, oil water heaters
    must have an energy factor (EF) of at least 0.80 or a thermal efficiency of at least 90%. ENERGY STAR qualified high-efficiency gas storage water heaters will NOT qualify for the tax credit.


    8.) Solar water heating must be placed into service before 12/31/2016. One-half of energy generated by “qualifying property” must come from the sun. Water must be used in the dwelling and may not be used for swimming pools or hot tubs. System must be certified by SRCC.

    9.) Windows, doors, and insulation must meet the requirements for your region of the 2001 or 2004 International Energy Conservation Code, a model energy code for buildings. All ENERGY STAR windows qualify.

    10.) Roofs must be metal with pigmented coatings or asphalt with cooling granules that meet ENERGY STAR requirements.

    11.) Heating and cooling equipment must meet stringent efficiency requirements – not all ENERGY STAR products qualify.

*<Manufacturer’s Certification Statement> required For tax purposes, save your receipt and the Manufacturer’s Certification Statement Use IRS Form 5965

For more information on the federal tax credits visit ENERGY STAR at http://www.energystar.gov/index.cfm?c=products.pr_tax_credits .




LUnderstanding factors that drive the volatility in residential heating oil prices.

Fluctuations: Variations that occur in the price of petroleum distillate products due to incremental, somewhat
predictable, changes in the supply and demand of such products.

More consumers begin using heating oil as a secondary heating source:

Some consumers may use heating oil to augment their existing heat source in times of extreme cold.
Prices of other heating fuels (such as natural gas or kerosene) may increase even more than heating oil
during these periods.

Wholesale buyers and anxious consumers drive the market up:

Resupply may be weeks away. Concerned that supplies will not cover short-term customer demand, wholesale
buyers bid up prices for available product. All the while the regional inventory is being depleted.
Consumers become anxious about their short-term needs and continue buying up the current inventory; driving
prices up sharply until the new supply arrives.

Seasonal demand for heating oil:

Where the consumer lives also plays a significant part in the seasonal demand for heating oil. A homeowner in
the Northeast might use 650-1000 gallons of heating oil during a typical winter, while their counterpart in South
Carolina may use half as much

There is an appreciable amount of oil-heated homes located in New England and the Central Atlantic States.
Approximately 6.3 million homes of the 8.1 million households nationwide that heat with oil are located in the
northeastern part of the United States. That comprises roughly 78 percent of the total U.S. heating oil market.
The seasonal increase in inventories and demand is largely confined to the Northeast. It is not uncommon for
the total receipts for heating oil sales in the Northeast to exceed 80 percent of gross sales in any given year.


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