I want to sign up for some of these credits, but I don't want to blow a whole lot of money on it. If I put in good windows, do I get $1500 -- and then anotehr $1500 for the insulation, or is $1500 all I get in total?
Based on what I heard on the news, it's $1500 for each project. And for solar stuff I think there's no limit and it's 30% of the total cost whatever it is. Maybe geothermal too.
“$1,500 is the maximum total amount that can be claimed for all products placed in service in 2009 & 2010 for most home improvements, EXCEPT for geothermal heat pumps, solar water heaters, solar panels, fuel cells, and small wind energy systems which are not subject to this cap, and are in effect through 2016”
Basically windows, insulation, etc all count towards the $1,500 maximum. So if you install $5,000 of windows, you’ll get 30%, or $1,500. If you insulate after that you can’t claim anymore.
The only exceptions are the geothermal heat pumps and such listed. You can claim 30% of the cost with no maximum limit.
If you do opt for getting the windows, here’s a good article on what to look for:
