Increasing the energy efficiency of their home could earn a primary homeowner a tax payer up to a $1500 tax credit. If you use your tax return to purchase energy efficient doors , windows , HVAC equipment, water heaters, skylights or insulation and roofing materials you will get 30% of that money returned to you as a tax credit. Taking advantage of this federal income tax credit just makes financial sense if you plan on purchasing some of those items anyway.
The tax credits do have a few requirements and some paperwork to file, but that is a minor task compared to dollars you will keep in your pocket. If you do not take advantage of the credit for the this year, you will miss out on this great offer. If you received a tax return of $1000 this year and expect to get about the same refund next year, you could spend this year's return on a $1000 home improvement (materials costs only) and next year you'll receive $1300 back, instead of just $1000 because of the tax credit. You could spend up to $5000 on these home improvement projects to max out at the $1500 limit.
Not all windows, doors and HVAC purchases qualify for the tax credit. Consult a tax professional or go to energystar.gov for more detailed information. You can contact Mr. Handyman for more information as well.