Tax Credit - Save on Home Improvements and Cut the Monthly Utility Costs With Green Energy Products

With the current government administration and more attention being focused on energy conservation, there are a variety of tax credits available for 2009 and 2010. Surprisingly, not every tax credit is for upgrading and installing newer expensive home appliances such as a residential air conditioner or heat pump. The amount of the credit given varies depending on the cost of the item being installed. Generally, the tax credit applied is 30%. There are currently a plethora of items eligible for these tax breaks. Installing a newer and more efficient HVAC system can be eligible all or in part. One component of the HVAC system may qualify while another component of the same system may not. Almost every HVAC service company should have detailed additional information regarding the tax advantages. Another product area which is eligible for tax breaks and incentives are doors, windows, and insulation. Faulty seals around door and window edges are a major cause of heat loss or infiltration. Replacing existing doors or windows can lower a homeowner's monthly utility bill expenses while still qualifying for a tax credit. Beefing up the attic insulation or crawl space with a radiant barrier can dramatically reduce the heating and cooling bill by preventing much of the warm air during winter from escaping or cool air in the summer. The homeowner should be aware that just because a product states it is an energy star appliance or product does not mean it will qualify for the established tax credits. Most kitchen appliances will not qualify, whereas some types of roofing can yield a good tax credit for the 2009 or 2010 tax years. Other home energy improvements are photovoltaic systems, or solar panels and wind turbines. One key requirement to receiving a tax break with these home improvements is that at least half of the home's energy consumption must come from use of solar energy. There is one caveat. Heating a pool or hot tub with solar energy is not allowed to be factored into the 50% or more energy consumption. Wind turbines, resembling small windmills, convert wind energy into electricity. While green energy sources can be a sizeable investment, the monthly savings and benefits will pay for itself in a relatively short time. Depending upon the location of the home, many areas may or may not permit the installation and use of solar panels or wind turbines due to not fitting within the architectural style of the neighborhood. Slowly this excuse is being pushed aside in favor of greater efficient use of green energy. For more information on reducing energy costs go to http://www.utilityimprovements.com today.



Article independently authored by Daniel Elliott. The content herein may or may not reflect the views and opinions of Utility Improvements.