According to, you can claim a tax credit for 30 percent of the cost of installing a geothermal heat pump, small wind turbine or solar energy system in your home. The credit has no upper limit and applies to both existing homes and new construction, but not to rental properties. This credit is good until Dec. 31, 2016.

You can also get a credit of up to 30 percent of the cost of residential fuel cells, up to $500 per .5kW of power capacity, says. This credit is also available until Dec. 31, 2016.

Depending on the type of home improvement or repair you undertake, you may also be able to claim a deduction on your taxes.

Before launching a significant home repair or improvement, it may pay to consult with your tax accountant to see what, if any, portion of the cost may be deductible.