Making your home more energy efficient can save you money, improve your home’s ability to retain heat in winter and reduce your overall carbon footprint. Best of all, there are many government, utility and other organizations that provide credits, rebates and similar incentives to help you implement these environmental and cost-effective changes in your home.
The U.S. Department of Energy allocates money to states for energy-saving projects, programs and which is then distributed to you, the consumer. Budgets vary according, but every state has money, and often a lot of it, earmarked for home energy improvements. The best way to find out what is available in your state or town is to visit the U.S. Department of Energy homepage.
Qualifying Wood Stove Deduction
Arizona tax payers can deduct the cost of replacing and installing a wood burning fireplace with qualifying wood burning stove or gas-fired fireplace. The costs are tax deductible up to $500. To qualify, the new appliances must meet the standards for new wood heaters set by manufacturers after 1990 or sold after 1992.
Solar and Wind Easements
The states of Maryland, Oregon, Idaho, Alaska and a few others, allow residential consumers to enter into a solar easement contracts. This agreement ensures that residents have the right to access sunlight for the purpose of using a solar energy system. To qualify, most states require that you own the land or property on which the agreement is based. The financial savings of using solar power are significant. You can use it to heat your water, generate heat and electricity and even heat your pool if you have one.
Water and Power - Solar Solutions
The town of Glendale, California offers residential consumers, including those who own multi-family residences, an incentive to install a photovoltaic (PV) system in their homes. This stems work by using sunlight or solar power to generate renewable energy strong enough to power an electrical current strong enough to power traditionally electric appliances and systems. The precise amount of energy a PV produces depends on the location of the devices (i.e. the amount of sunlight exposure), its orientation, panel efficiency and its ambient or resting temperature. The rebate includes 50% of the total system cost, including installation. The maximum payment per fiscal year may not exceed $100,000.
Utility Green Power Option
Montana law requires that all regulated electric utilities offer consumers the ability to purchase the same electric from a certified, environmentally preferred resource. This includes producers of wind, solar, geothermal and biomass energy. Being able to choose an energy source that is not only environmentally-friendly but also cost-efficient is a big incentive to upgrade your home's power system.
States like Ohio, New Jersey, Virginia and Vermont, as well as other, offer net metering to residential clients who have PV systems. For example, if a person uses their PV system throughout the day, but and the system generates more energy than the client uses, the utility is required to credit them the difference in energy usage. In such cases, the net meter will move backward to credit the consumer or be put back into the grid for nearby customers to use.
Solar and Wind Energy Credit
Hawaiian residents are entitled to an income tax credit for 20% of the cost of purchasing and installing a wind system in their homes. They can also receive a 35% tax credit for purchase or installation of a solar thermal or PV system or $2,250, whichever is less. However, a single family residence may be eligible for up to $5,000 photovoltaic and solar space heating systems. Corporations are eligible for a similar credit scheme.
Air Quality Improvement
Salt River Arizona has a solar water heating program that is available to residents of the town. To qualify, a resident must purchase a solar water-heating system as a backup for their standard electrical system. Qualifying residents receive $0.30 per kilowatt hour (kWh). Those installed in areas considered less optimal receive a prorated incentive of $0.24 per kilowatt hour.
Incentives, savings and rebates are widely available to home owners throughout the United States. Best of all, finding one that suits your specific energy needs of remodeling plans is fairly easy once you know where to look. Now that you know what’s out there, you can start calculating just how much money you're going to save by making your home more energy efficient.