Energy Efficiency Tips
Thanks to tax credits, making your home more energy efficient is no longer a taxing problem on your pocketbook. Take advantage of this opportunity, and save money by improving your home’s plumbing, heating and air conditioning systems.
“It’s a win-win situation for homeowners,” said Mary Kennedy Thompson, president of Mr. Rooter Corporation. “They can save energy and money while keeping their homes comfortable and current.”
The United States stimulus package includes tax credits when consumers make energy saving improvements to their homes. The credit is worth 30 percent of the installed cost of improvements with a combined maximum credit of $1,500.
Consumers can apply the credit to the setting up of the following higher efficiency items:
- central air conditioners
- water heaters
- air source heat pumps.
While consumers must make the above upgrades either this year or next, the tax credit for the installation of solar hot water systems and geothermal heat pump systems is available until Dec. 31, 2016. This credit equals 30 percent of the installed cost. Plus, there’s no maximum cap.
Don’t forget that first-time homebuyers who purchase their homes before Dec. 1 are eligible for an $8,000 tax credit. The money saved could go to home improvement projects.