Gainesville Regional Utilities wants taxpayers to take advantage of rebates and tax credits available for energy efficient home upgrades made in 2012 or 2013.
Following the American Taxpayer Relief Act of 2012 (ATRA), the Residential Energy Efficiency Tax Credit was reinstated for energy efficiency improvements. This means any homeowners who have made energy-efficient upgrades to their home in 2012, or plan to make upgrades in 2013, can receive tax credits. GRU is also offering rebates for energy-saving upgrades.
In order to receive a tax credit for the upgrades, taxpayers need to file IRS form 5695 with their 2012 or 2013 taxes and keep any related receipts or itemized bills. There is a cumulative lifetime limit of $500 in total credits.
Some of the recognized upgrades include:
– heat pump and natural water heaters
worth $300 in tax credits and $200 in GRU rebates
– natural gas water heaters
worth $300 in tax credits and between $250-$300 in GRU rebates
– having new insulation installed
worth 10 percent of the cost of installation in tax credits and $0.125 per square foot in GRU rebates
– solar power-generating systems and solar water heaters
worth 30 percent of the cost in tax credits. GRU also has a solar electric system rebate program
– installing new windows
worth 10 percent of the cost in tax credits and $1.25 per square foot in GRU rebates
For additional information about GRU rebates, call the Energy and Business Services Department at 352-393-1460.