Energy Tax Credits For Your Home
When looking to update or upgrade your home, homeowners may want to consider energy saving systems. One benefit of “going green” is that there are eco-friendly tax credits. While many of the programs available in past years have expired, there still are great options to consider now and all the way through 2016.
If you are wondering what systems offer a rebate or tax credit, or special financing, you can read more on the U.S. Department of Energy website here: Energy Savers: Rebates, Tax Credits and Financing
Geothermal heat pumps allow your home to be heated using the earth’s constant temperature instead of the outside air temperature and can reduce your energy costs. Most pay for themselves within five to eight years and can last for more than twenty-five years. The U.S. Department of Energy has information about the various systems to consider here: types of geothermal heat pump systems.
Solar energy systems for your household hot water needs are another eco-friendly option to consider! While the energy credit does not cover heating the water in your swimming pool or hot tub, considerable savings can still be seen with solar installation. Read what the U.S. Department of Energy says about available water heaters here: solar water heaters.
Wind energy systems are another way to power your home. You can learn more about them here: small wind electric systems.
Also, fuel cells. Information is online here: fuel cells.
You may want to do an energy consumption analysis of your home. This study will help you identify your energy needs and assist with planning for the right “green” energy alternative for you. The audit information is here: total electricity consumption.
There are many options for creating and providing your own energy to get “off the grid.” There is plenty to consider when exploring these solutions, so make sure you do the research first to see what will work best for your home.
*Check with your tax advisor, accountant or CPA to verify if the tax credit applies to you.