Energy Tax Credits and Green Financial Incentives
There is currently a set of federal tax credits that are available covering a host of green and energy efficient projects. In addition, many states, municipalities and utilities have financial incentives including rebates, tax credits and tax deductions for green and energy efficient projects.
What Projects Are Covered?
In short, energy efficiency improvements and renewable energy projects are covered. Energy efficiency improvements include energy efficient water heaters, heat pumps, air conditioners, appliances, windows, doors, insulation, and many others. The credit for these improvements can be as much as $500.00 to $2500.
Renewable energy projects include solar hot water, geothermal heat pumps and solar and wind power. These projects can receive a federal tax credit of up to 30% in addition to any state, municipal or utility incentives in your area. One of the biggest changes concerns residential renewable energy projects like solar panels. The federal tax credit for these alternative energy projects was previously capped at $2000.00. However, this cap has now been removed. This potentially reduces the cost of a solar PV system for a residential application by as much as $10,000.00. Go to the Resources section of the Green Pro Directory site for links and information on federal, state and local energy tax credits and green financial incentives applicable to you.
Who to Call?
Green Pro Directory provides a selection of green companies across a comprehensive range of service types in your area. Use the green pro directory to find and contact green pros in your area to help you determine what incentives are available and which green or energy efficient projects may be of interest to you. You can also find more detailed information on current green financial incentives at the links on the Resources section of the GPD site.