Frequently Asked Questions About Residential Energy Tax Credit
There are many frequently asked questions about energy tax credits for residential construction. Some of the more common ones include:
Can I get a loan for a roof replacement?
If you decide to do roof replacement or repair, they are eligible for credit only to the extent that the materials used in these repairs or replacements meet the requirements. For example, materials such as solar panels, roof shingles, and shingles are eligible, but any improvements made to the roof structure not specifically related to energy efficiency are not eligible for the tax credit.
Are there other sources of discounts or credits?
With an ever-growing number of government agencies, cities, counties and homeowners striving for sustainability, the short answer is definitely. In fact, many state and local authoritiesas well as many manufacturers offer credits and discounts to make high cost energy improvements more affordable.
Does the loan affect my home cost base?
Any tax credit received will lower the base value of your home. In other words, if you decide to sell your home later, you must deduct the dollar amount you earned in residential energy tax credits from your baseline value.