Renovations that save energy, like wall insulation and a new water heater, don't just cut your electric bill. You can claim a tax credit for 10 percent of what you paid for such items, or 30 percent on alternative energy options such as solar water heaters and wind turbines.
You can claim if...
--You haven't already collected the lifetime $500 limit for an individual item's credit.
--Your products qualify. Not all energy-efficient items do. Check energystar.gov to see if your item does.