Jason Barton

Professional Information and Energy News

Energy Efficiency Can Mean Lower Taxes

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From cakes and weekends at the Four Seasons, now to tax breaks, as if we needed more incentive to save energy.

Energy efficiency improvements can also reduce your tax liability

By CAROLE FELDMAN Associated Press Writer
WASHINGTON January 19, 2010 (AP)

Making energy efficient improvements to your home will do more than reduce your energy costs — they’ll also reduce your tax bill.

The tax credit for energy-efficient windows or doors, air conditioners or furnaces, or other energy-saving improvements disappeared in 2008, but returned for 2009 and 2010 — at an even higher value. This is one case where procrastination paid off.

[…]

Homeowners who choose alternative energy could be in for a bigger tax credit.

There’s a 30 percent tax credit with no maximum for homeowners who install solar water heaters, geothermal heat pumps or small wind turbines. The credit also applies to site preparation and installation.

Read the entire article here.