Archive for the ‘Energy Tax Credits’ Category

The Recovery and Reinvestment Act that was signed into law by President Obama and went into effect just this last month, has some real goodies in the form of energy tax credits for the homeowner and upcoming work for the small business owners that can supply the labor.

Partly to boost the economy and partly to help make homes more energy efficient, the tax credits have been increased from 10% to 30% with a cap of $1500, except for major improvements such as Solar panels where you can take advantage of the full 30%, and the credit will be extended through 2010.

For small companies that can do these types of improvements it will be a great boost to their businesses once word gets out about the credits.

Some of the covered improvements will be:

Roof:

Can run a homeowner from 5-20 thousand dollars. To get the credit you must use “EnergyStar-rated asphalt or metal roof.”

Furnaces and Air Conditioners:

Run in the 4-5 thousand dollar range and must meet Energy saving Guidelines.

Water Heaters:

Can cost  up to 2 thousand for a Tankless water heater which are the most efficient, must meet “an energy factor of 0.82 or a thermal efficiency of at least 90%.”

Double Insulated Windows:

Can be expensive to do the whole house  at an average of $750 per window but definitely worth it, so the 30% credit will come in handy.

New Insulation:

Run 3 to 8 thousand for the whole house, and must meet the 2009 standards.

Solar Electric Panels:

Are probably the most expensive of all the upgrades, but the one that will make the most difference in the long run.

For more info go to EnergyStar.gov

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