OED is partnering with the
Indianapolis Colts on a number
of events this year. Click here
for a schedule
Tax Credits & Incentives
Energy Star Appliance Rebate Program Launches In 2010
The Indiana Energy Star Appliance Rebate program is scheduled to begin February 1, 2010. Learn more about it here.
State Tax Credit for EnergyStar Now Available
As of January 1, 2009 the State of Indiana is providing a state income tax credit when certain EnergyStar rated equipment is purchased by a homeowner or small business owner. The credit, worth as much as $100 can be used when purchasing a furnace, a water heater, central air conditioning, room air conditioner or a programmable thermostat. Homeowners and small business owners can claim the credit on their state income tax return.
While paperwork requirements have not yet been determined, the Indiana Department of Revenue advises citizens keep all receipts showing the purchase and installation of the EnergyStar product. In addition, citizens are advised to keep any additional materials identifying the product as EnergyStar. Download a copy of the enabling legislation here.
Eligible Equipment: All products and equipment must be rated as part of the EnergyStar Program. EnergyStar models of the following equipment are deemed eligible.
o Furnaces
o Water heaters
o Central air conditioning
o Room air conditioners
o Programmable thermostats
For more information, please visit or download:
EnergyStar Qualified Appliances
IDOR Information Bulletin: Energy Star Savings
IDOR Tax Talk Archive: Energy Star
Energy Efficiency
EPA provides tax credits and incentives for various projects involving efficiency and efficiency measures for both consumers, home-owners and businesses. These are provided by the Energy Policy Act of 2005.
Homeowners and Home Builders
- Summary of Tax Credits for Homeowners
- IRS Notice 2006-26
- Tax Credits for Home Builders
- IRS Notice 2006-27
- IRS Notice 2006-28
Tax Credits for Appliance Manufacturers
Tax Deductions for Commercial Buildings
Links
- Fact Sheets
- Tax Incentives Assistance Project
- Commercial Building Tax Deduction Coalition
- Energy Bill
Alternative Fuels
Federal Income Tax Credits exist for the installation of alternative fuel systems. The infrastructure development provision was part of the 2005 Energy Policy Act and provides a 30% federal income tax credit, up to $30,000 per property, to install alternative fuel dispensing systems.
E85 and Biodiesel Tax Credit Forms
The Indiana Department of Revenue provides the forms for E85 and Biodiesel tax credits.
Geothermal Technologies
Indiana offers state property tax exemptions for the installation of geothermal technologies. For more information please contact Donna Palmer with the Indiana Department of Environmental Management at 317-233-0478.
Solar and Wind Technologies
Property tax exemption information for the installation of solar and wind technologies can be found by contacting your local county auditor or county assessor.
Federal Program
Visitors to Washington, D.C. for President-elect Obama's Inauguration viewed residential-scale wind turbines on display at the U.S. Botanical Gardens on the Mall. Today's small wind turbine systems, large enough to power an average home, cost about $30,000, with some systems ranging from $10,000 to $70,000.
The good news is that a federal-level investment tax credit (ITC) is now available to consumers wanting to purchase small wind turbines for home, farm or business use. Owners of small wind systems with 100 kilowatts (kw) of capacity and less can receive a credit for 30 percent of the total installed cost of the system, not to exceed $4,000. For residential turbines, the credit is additionally limited to the lesser of $4,000 or $1,000 per kw of capacity. The ITC, written into law through the Emergency Economic Stabilization Act of 2008, is available for equipment installed from Oct. 3, 2008 through Dec. 31, 2016.
Business and Industrial Tax Credits
Additional tax credit programs can be found by visiting the Indiana Economic Development Corporation.
