Combine Going Green with Saving Money: Federal and State Tax Breaks |
| Date Added: March 10, 2010 07:58:05 AM |
| Author: Wesley Holm |
| Category: Business & Economy |
| If you’ve started to “go green” you’ve probably already noticed some benefits to the quality of life in your home, especially when it comes to saving money. Reducing your energy usage by taking actions such as replacing appliances with ENERGYSTAR rated ones cuts your energy bill in a measurable way. Or if you’ve installed your first dishwasher, you’re not only saving money and water, you’re saving yourself some hard work (and the skin on your hands thanks you, too!) “Going green” is like that for our society at large as well as in each of our homes. It reduces financial cost, preserves our environment and enhances everyone’s quality of life. It touches every portion of our homes, from your central air units and central heating to your furnace air filters and gas heaters. Since it has such tangible benefits, our federal government along with many state governments are encouraging us to “go green” by offering yearly tax credits. Did you know that if you install certain energy-efficient products or renewable energy systems you might qualify for a tax break of up to $1500, or more? But before we take a quick look at the current Federal Tax Credit program, you should also know that every state, plus the District of Columbia, offers a rebate program for purchasing ENERGYSTAR rated appliances. You can visit The Department of Energy’s website to learn more about what your state has to offer. Currently, the state of Ohio plans to offer a rebate program, scheduled to begin in March 2010, which will apply to ENERGYSTAR qualified and ultra-efficient models of appliances that are purchased and installed to replace older, inefficient models. It will cover refrigerators, clothes washers, dishwashers, gas storage water heaters and electric heat pump water heaters. But the program will only last until all the funds allocated for it are spent, so don’t wait to apply for your rebate this year! Now, on to the Federal Tax Credit program. First, to qualify, the energy efficient improvement must be done to your principal residence, not a second home and not a rental home. If you make energy efficient improvements to the following areas, you may be eligible for a tax credit of 30% of cost, up to $1500: Biomass Stoves HVAC Systems Insulation Roofs (Metal and Asphalt) Water Heaters (non-solar) Windows and Doors This tax credit is set to expire December 31, 2010. If you make the following energy efficient installations, you may receive a tax credit of 30% of cost, with no upper limit: Geothermal Heat Pumps Small Wind Turbines (Residential) Solar Energy Systems This tax credit is set to expire December 31, 2016. Finally, if you make the following energy efficient home improvement to your primary residence, you may receive a tax credit of 30% of the cost, up to $500 per .5 kW of power capacity: Fuel Cells (Residential Fuel Cell and Microturbine System) This tax credit is also set to expire on December 31, 2016. So if you are one of the thousands of homeowners interested in “going green,” don’t forget to look into the tax credit benefits and rebates that could be coming your way. Wesley Holm, President of Thompson Plumbing Heating & Cooling, a Cincinnati-based plumbing, heating and air-conditioning company that offers the best service in the Greater Cincinnati area. |
Excellentlisting Directory
HomeAdd SiteAdd ArticleNew LinksTop LinksArticlesContact UsSearchLoginRegister
Pending Links: 678
Todays Links: 6
Total Articles: 870
Total Categories: 13
Sub Categories: 418
Directory Submission
Sponsored Link
Some SitesSome SitesSome SitesSome SitesBanner
Statistic
Active Links: 1701Pending Links: 678
Todays Links: 6
Total Articles: 870
Total Categories: 13
Sub Categories: 418
Directory Submission
Categories
Arts & HumanitiesBlogsBusiness & EconomyComputers & InternetEducationEntertainmentHealthInternet and Web ServicesNews & MediaRecreation & SportsReferenceScience and TechnologyShopping Latest Articles
The World of Playstation 3Gaming has made a permanent place for itself in the minds of the younger generation. It started with the vintage video game player, which then made way for the first and second versions of the Playstation. With the introduction of Playstation 3, gaming has been taken to a completely different level.Top 10 sex toys for your best times
Enjoying a great sex life is all about experimenting with different tools. There are going to be several moments when you will end up thinking about how you could spice up your sex life.Getting insured for South Carolina roads
The government in South Carolina has taken a lot of measures to ensure the safety of the riders in one of the busiest roads in the states. One of these measures is having a compulsory insurance coverage in case of accidents.Rhode Island- a state with cheap car insurance
Rhode Island, a small state of United States, is known for cheap auto insurance policies. As far as the basic reason is concerned, it is the low population that causes cheap insurance rates for the vehicles in the state.Pennsylvania car insurance needs
To get a cheap car insurance in Pennsylvania you need to have a suitable and valid license and your record needs to be clean. It will rather depend on the car insurance company weather it wants to include you in its client list.
