Act fast! You have 18 more days to make some energy efficiency changes around your house if you want to qualify for some federal tax rebates that expire December 31, 2007. A credit that was created by the Energy Policy Act of 2005 is set to expire on December 31. The tax credit allows for 10% of the cost of materials for some projects up to a maximum of $500 and also has credits available for solar power installation:
Consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in the home can receive a tax credit of up to $500 beginning in January 2006. The EPACT also provides a credit equal to 30% of qualifying expenditures for purchase for qualified photovoltaic property and for solar water heating property used exclusively for purposes other than heating swimming pools and hot tubs. Home improvement tax credits apply for improvements made between January 1, 2006 and December 31, 2007.
Of course, if you are going for a solar install in the next 2 weeks, you might have to really bust your ass to get it all up there and installed, but for other smaller changes you could make, check out the full list of what is covered by this energy act, at the Department of Energy’s website.