The best part is you can claim 30% of the installed cost and there is no upper end limitation. You can also claim a credit for new homes and second homes, heck even third homes! I find this unreal.
Apparently, if you are rich and can afford wind powered electric turbines and solar panels on your three homes, then you can deduct 30% of the costs, with no upper limit. But if you want a tax credit to pay someone to insulate or weather strip your home which would reduce energy consumption on a much more massive scale, sorry pal! No installation labor tax credit for you!
Oh and don’t forget, the affluent who can buy the wind powered electric turbine and solar panels and geothermal heat pumps for multiple homes if they want, have until 2016 to claim their tax credit. Very nice indeed!
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