If you have ever taken the time to clip a coupon, browse the clearance rack, or shop around for the best deal, you clearly know the value of a dollar. We all want to make sure we are getting the same quality product, for the best price. Sometimes the cost of a product can restrict us from making purchases we really want, when we want.
If you’ve been considering making an energy efficient upgrade to your home or business, you may be happy to hear there are many programs available today to help make the purchase a little easier on your wallet. These incentives are in place to encourage choosing energy efficient products instead of alternatives, while reducing the difference in price for homeowners.
The government recognizes the importance of reducing our national energy consumption and has?instituted tax rebate programs to encourage homeowners to make energy-efficient upgrades to their homes. The Federal Residential Energy Efficiency Tax Credit of 2009 has been extended through December 31st, 2011 for new energy efficient items such as insulation (including siding insulation), windows, furnaces, water heaters, etc. However, significant changes have been made to the program since last year. Be sure that your product qualifies and you clearly understand the details of the rebate before making a purchase.
Although federal tax credits are usually well-known, most people don’t realize there are also incentives available through states, cities, counties, and even utility companies! Local incentives for energy efficient upgrades vary greatly across the country. I recommend visiting The Database of State Incentives for Renewables and Efficiency (DSIRE?) to learn about the?rebates available to you in your area!??For instance, my gas company offers cheap energy audits to help their customers identify problem spots where their home is leaking energy, so they can make the best decision for increasing the energy efficiency of their homes!
An energy efficient upgrade will save you money on your utility bills for the life of the product, but it doesn’t hurt? to cash in on an additional incentive around tax time. If your’e considering making an upgrade, I wouldn’t wait too long… these programs have an expiration date!