- Solar-powered electricity generation
- Solar-powered water heating
- Small wind energy generation
- Fuel cells using renewable fuels
- Geothermal heat pumps
renewable energy sources for your home and installing certain types of high-efficiency heating and cooling equipment, you can qualify for a substantial credit on your individual income taxes. Federal residential renewable energy tax credits, sometimes called energy efficient property credits or residential energy credits, can be applied directly to your personal income taxes for the year in which the equipment was installed. The credits cover the following types of energy-generation or HVAC systems:By improving the energy efficiency of your home, you’ll make your living environment more comfortable and save money on your ongoing energy expenses. There are several federal tax credits for energy efficient home improvements for which you may qualify.