Federal Energy Tax Credits

Learn More About the Energy Star Tax Credit.

Energy Star Tax Credit - http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

 

Homeowner’s hit a Home Run with reduced energy costs, help with improvement expenses.

Your energy costs are increasing and your income is being stretched- and look who’s trying to steal home- it’s inflation! Say it ain’t so! Pardon the baseball lingo, but as homeowner’s in America we’re facing two outs in the bottom of the ninth. But wait; with the new tax incentive program the bases are loaded! It’s crunch time, and the Ump is yelling “Batter Up”…only this time it’s not a spectator sport. The American homeowner is up to bat (that’s you). It’s time to step up to the plate.

We’ve been hearing about the good, the bad and the ugly in the so-called stimulus package, code named the “American Recovery and Reinvestment Tax Act of 2009” and for most Americans we have a need to understand what, if any, good there is in it.
Let’s focus on the good: Energy Tax Credits.
Homeowner’s have significant opportunities to take advantage of some true benefits, which if used correctly can have an immediate impact on your energy costs, with the byproduct being a reduction of your homes carbon footprint and a lasting impact on the environment. Savings with responsibility, blessings sometime come even in big packages!

The current federal program includes incentives for the following home improvements:

• Home Shell: The newly past incentives are now calculated at 30% of the cost of the installation (labor and equipment), up to the $1,500 cap. These include duct sealing, envelope sealing, insulation, etc.

• On-site renewables: Geothermal heat pumps are now eligible for a tax incentive worth 30% of the total cost, without a cap.

• Manufacturer Tax credits for sales of high-efficiency refrigerators, clothes washers, dishwashers, and dehumidifiers.

• High Efficiency gas, oil, and propane furnaces and boilers

In short, sealing cracks and holes in your home’s shell and air ducts to reduce infiltration and heat loss (best discovered and remedied by having a professional energy audit performed) installing qualifying geothermal heat pump systems or high efficiency air source heating & cooling systems, whole house dehumidification systems, hot water heating systems, windows, doors, and insulation are some of the most useful homeowner incentives spelled out.

The energy tax incentive is not a handout- it will cost you something. It does however give you control to reduce your living expenses through reduction of recurring energy costs (your monthly utility bill) and home improvement costs (initial costs of making energy saving improvements to your home.) In other words yes, you do have to give to get. You have to make an investment.

Some say our homes are an investment, others say a liability. By definition investments should yield a return, right? Call it what you will, either way we own them and if we want to reduce our liability (cost of use) or enhance our investment (value received), perhaps now more than ever we need to seriously consider our home as a long term investment, one we will own for more than three or four years. One that through well informed, educated and savvy improvements we can expect a payback from, but not in resale value alone (if at all)! Maybe, just maybe we should accept our return on that investment through reduced energy costs, increased comfort, and simple peace of mind knowing we are being responsible with the resources we have. Your personal squeeze play in the big “green” picture.

How do you get started? Start the process right with a professional energy audit- how is the doctor going to know what’s wrong with you if he assumes you have the same symptoms as your neighbor or someone across town? Diagnosis without testing is malpractice! Get a detailed diagnosis of your home’s needs, plus a professional to help you prioritize possible solutions specific to those needs. Once informed about the impact different improvements will make and what tax incentives and rebates apply to your options, you choose what to do next. No pressure, just solutions, and we’ll help you sort it all out.

To set up your energy audit, get help taking advantage of the energy tax credits, get a free quote on a geothermal or other heating, cooling, or energy and comfort solutions, just email This e-mail address is being protected from spambots. You need JavaScript enabled to view it . "Batter Up!"

Note: Additional energy incentives for multi family, commercial, public and private improvements are also available. For helpful explanations and an overview of the Federal Energy Efficiency Tax Incentives passed as part of the American Recover and Reinvestment Tax Act of 2009, log on to www.energytaxincentives.org. In addition, consult your electric provider for local incentives and programs concerning energy audits, energy savings and rebates to offset the costs of testing and improvements.