Tax Credit Incentive

This tax deduction is a great incentive for home or business owners to install energy efficient HVAC systems and equipment in their homes or businesses, and represents an opportunity for engineering companies to offer services to their clients to design for energy savings and certify those savings.

How do I apply for the tax credit?

For products placed in service in 2009, you need to file the 2009 IRS Form 5695 and submit it with your 2009 taxes by April 15, 2010. On the 2009 1040 form, the residential energy tax credit from Form 5695 is claimed on line 52. For products placed in service in 2010, you would take the tax credit on your 2010 income taxes.

What you need to submit and save?

You need to save your receipts and the Manufacturer's Certification Statement (for your records). Submit Form 5695 with your taxes.