Tuesday, October 5, 2010
Save Money and Energy with Green Tax Credits
If you have been considering making your home more energy efficient, now is the time to take charge. The American Recovery and Reinvestment act is still offering up to $1,500 in tax credits for qualified energy purchases. Green tax credits can be used to help make your home more energy efficient while saving you on some of the costs. The credits put into law in 2009 were a way to help American home and business owners convert their homes and buildings into more energy efficient dwellings. Additionally, the extra spending would help give the struggling economy a shot in the arm.
So, what can you do as a homeowner to improve you homes energy efficiency and take advantage of these tax credits? The most popular purchase has probably been new exterior windows. New windows are one of the best ways to reduce your heating and cooling bills. Other purchases eligible for the tax credits include green insulation systems, exterior doors, qualified metal roofs, air conditioning, and heating sources. All of the systems listed must be qualified under the program. Your contractor or place of purchase will be able to inform you which of the items fall into the approved category. The tax credit allows you to save up to 30% on all qualified purchases. However, there is a $1,500 cap on the tax credit.
If you have wanted to join the millions of Americans striving for more energy efficient homes, the new green tax credits are a way you can get there, and save a few bucks in the process.