It’s almost tax time and we all have money on our minds, specifically: how can we save more? If you’re thinking of doing some work on your home, now is a great time to go green and save some green.

In this entry, we’ve outlined some of the most important tax incentives for homeowners who want to conserve energy and make improvements to their homes that will reap real benefits, both by saving on utility bills and by making a more comfortable living space to enjoy.

The Homeowner Tax Credit for Insulation Improvements

If you own a home and are planning to add energy efficient insulation, replace windows and doors, or install a new energy efficient HVAC system, you may be eligible for a tax credit. If you opt for spray foam insulation, for example, the IRS has indicated that foam and polyurethane insulation products qualify for tax credits as “eligible building envelope components”. The general dollar amount attributed to these credits is 30% of the cost of the material, up to $1,500.

Visit the Department of Energy’s guide to energy tax breaks by clicking here. There are plenty more incentives to be had depending on your level of dedication to “greenifying” your home – if you install a geothermal heat pump or solar panels, for example, you can save another 30%.

These tax credits were recently extended for 2010, so don’t worry if you missed out in 2009. Just don’t put it off another year!