Several different types of energy tax credits apply to individuals. You can make energy-saving improvements to your primary residence with qualified efficient HVAC equipment, doors, windows, skylights, insulation, roofs, water heaters, and biomass stoves. For 2011 there is a $500 residential energy tax credit, but there are numerous restrictions. Be sure to ask whether the item you purchase qualifies. But remember, sales people aren't tax experts and won't know whether you have already used the full amount of your available credit. Adam Shay CPA, PLLC can help you maximize your tax savings through timely, wise, and green home improvement expenditures.

Renewable energy projects may provide benefits to you in two ways: through individual tax credits, and by reducing the cost of heating and cooling your home. For most renewable energy projects, the federal credit is 30% and the North Carolina credit is 35%. Specific limitations apply for certain types of systems, so be sure you contact us for help analyzing your specific project and tax situation. You may not receive the full tax credit if you don't have enough tax liability to offset.

There are a lot of great companies and individuals in the Wilmington, NC area that are involved with the Cape Fear Green Building Alliance (CFGBA). They can help you implement a qualified project.

For more information on individual energy tax credits, contact us or call us at 910-256-3456.