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Category: Credits

What are the full qualifications for the Residential Energy Credit?

The non-business energy property credit has been extended through December 31, 2016. You may be able to take this credit if you made qualified energy saving improvements to your home located in the United States in 2015.

This credit applies to building components such as energy-efficient exterior windows and doors, certain roofing, and insulation.  The cost of installing these items does not count.  A credit can also be claimed including installation costs, for certain high-efficiency heating and air conditioning systems, water heaters and stoves that burn biomass fuel.  The credit has a lifetime limit of $500, of which only $200 may be used for windows.  If more than $500 of non-business energy property credits have been claimed by the taxpayer since 2005, the credit cannot be claimed.