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Home energy tax credits can save you thousands
Go Green! Sorry I’m not cheering for Delta, or Michigan State. I am talking about the new federal tax credits. They involve credits for going green. The credits range from making your house more energy efficient to changing heating systems. These tax credits are available for varying amounts of years. This was interesting that I found this topic, because I live with my parents, and they have started talking about certain projects they want done. Number one on the list was to reinsulate our house. This falls under making out house more energy efficient. We would possibly receive a $1,500 tax credit. Next on their list was to find a new heating source. Geothermal heating was the top possibility. Now there is a 30% tax rebate on putting in geothermal heating. This rebate is available until the year 2016. Geothermal heating is expensive to install, but I have heard that it pays itself off very quickly. I heard that it takes about 5 years to pay itself off. Geothermal heating uses electricity once it is installed and that is the only operating cost, which is much cheaper than fuel. Some of the other tax credits are being one of the first 200,000 people to buy a plug in hybrid car, a plug in system for a car, and installing a natural gas refueler. More incentives could still be authorized, so keep your eyes open. I found it very helpful that I found this article, and hopefully it will keep some money in my parent’s pocket!
Go Green! Sorry I’m not cheering for Delta, or Michigan State. I am talking about the new federal tax credits. They involve credits for going green. The credits range from making your house more energy efficient to changing heating systems. These tax credits are available for varying amounts of years. This was interesting that I found this topic, because I live with my parents, and they have started talking about certain projects they want done. Number one on the list was to reinsulate our house. This falls under making out house more energy efficient. We would possibly receive a $1,500 tax credit. Next on their list was to find a new heating source. Geothermal heating was the top possibility. Now there is a 30% tax rebate on putting in geothermal heating. This rebate is available until the year 2016. Geothermal heating is expensive to install, but I have heard that it pays itself off very quickly. I heard that it takes about 5 years to pay itself off. Geothermal heating uses electricity once it is installed and that is the only operating cost, which is much cheaper than fuel. Some of the other tax credits are being one of the first 200,000 people to buy a plug in hybrid car, a plug in system for a car, and installing a natural gas refueler. More incentives could still be authorized, so keep your eyes open. I found it very helpful that I found this article, and hopefully it will keep some money in my parent’s pocket!
