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Thursday, November 19, 2009

Winterize Your Home-Save Energy and Money ~ Thursday Thinking Green

It's not too late to green your home with new stimulus money incentives. The American Recovery and Reinvestment Act does include incentives to fix those drafty windows, old heating systems, and other home energy drains resulting in high energy bills. The savings can be rewarded in this 2009 tax season if you make these improvements to your home before the end of 2009. You could also improve your home and realize the savings in the coming year.

These new incentives increase the size of tax credits for homeowners who buy qualifying products. For example, those who invest in new energy efficient replacement windows, install duct seals, insulation, and high-efficiency heating and cooling systems can now receive a tax credit worth 30 percent of the upgrade cost (maximum credit value: $1,500). The tax credit for switching your home to renewable energy sources is even more attractive. Congress did away with previous caps on renewable energy sources which now means a 30 percent tax credit is available for homeowners who install solar panels, geothermal heat pumps, or windmills. For more information on products and the types of records you need to keep on your purchases, visit the IRS website by clicking on this link: Go Green!

Image from Google Images

2 comments:

Rebecca said...

Hmmm but you have to have the money to invest in the upgrades. I'm unemployed! HA! There's always a catch isn't there? But it is good of you to spread the news. The house is cute, at first I thought it must be yours.

Justin Howe said...

Remember that the tax credit on the replacement windows only applies to the cost of the product, not the installation labor. You will need to purchase approximately $5000 worth of replacement windows to realize the full benefit of the tax credit. However, it is well worth it for the energy savings as well as the tax credit. Learn More about the energy tax credit and replacement windows