9 Federal IRS Energy Efficient Tax Credits for Homes
Saving on Making Your Home Energy Efficient
As a homeowner you can qualify for federal tax credits by upgrading your home with energy improvement options. The initial costs of these types of improvements may seem high; however your utility bills over a period of time will actually be lower with a dual benefit of receiving up to $500 in total credits from the government. Certain alternative energy improvements may also qualify for larger tax credits that equal up to 30% of the cost in buying and installing equipment. Here is a listing of what the savings and costs are.
10 Ways to Save
Extra Insulation – Average cost is $400 to $1,800. The resulting savings can be enough to buy a new Keurig.
Metal/Asphalt Roofing – Costs on these are extremely variable.
Wind Turbines – Average cost is between $600 and $12,000.
Solar Energy Systems – The forecasted costs on these systems run between $600 and $5,000. The costs savings can be used to buy a brand new tool set.
Energy Saving Door and Windows – Can cost between $500 and $600, however a new set of knives can be purchased with the savings.
Bio Mass Stoves – Typical cost for these types of stoves are between $1,500 and $4,000. With the savings, you can buy yourself a new recliner chair.
Efficient Air Conditioning – An efficient mode air conditioner can cost between $300 to $4,000 and allow for enough savings throughout the year to purchase your own Christmas tree.
Ventilation – This is something that will help with the circulation of air and can cost an average of $1,000 to $2,000.
Geothermal Heat Pumps – A geothermal heat pump can cost $2,000 to $5,000 but save you enough to purchase a new 42’ Plasma TV.
Appliances – Purchase energy efficient appliances such as a stove or refrigerator to receive additional credit.
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