Are you looking for a way to be kinder to the environment while also saving some money? The good news is that there are plenty of great incentives for making your home eco-friendly.
Saving Energy
The most obvious advantage to installing eco-friendly additions to your home is the fact that they save energy, which ultimately save you money. Of course, installing eco-friendly technology isn't necessarily cheap. Therefore, it may take some time before you save enough money to compensate for the initial installation. If you plan on staying in the home for many years, however, the cost of installation will certainly be well-worth it. In addition, if you are building a new home, installing eco-friendly technology may not be much more costly than installing the alternatives. Nonetheless, the United States government has taken some steps to help offset the cost of going environmental.
Federal Rebates for Eco-Friendly Housing
The United States government has made it far more practical and attractive to install eco-friendly technology. Currently, the United States government offers energy-efficient rebate incentives such as:
?A tax credit of 10% toward the price of purchasing energy-efficient products, with a value of up to $500.
?Up to 30% tax credit for installation of solar panels, with a maximum credit of $2,000.
?A tax credit of up to 30% tax credit for installing a solar water heater, with a maximum of $2,000.
There are certain restrictions that must be adhered to in order to receive these credits, so it is best to check into these restrictions before making a purchase.
State Rebates
In addition to the federal rebates associated with eco-friendly technology, each state also offers its own incentives. In Texas, for example, home owners can receive a rebate for installing solar paneling.
California also offers an attractive rebate program. In fact, if they purchase a Skystream 3.7 wind turbine, they can receive a $4,1000 rebate. Not only will they save with the rebate, this turbine can generate anywhere from 30-80% of the power that a typical home requires.
In many states, a number of factors are used to determine the amount of the rebate you can claim for your eco-friendly additions. In New Mexico, for example, homeowners can enjoy a personal tax credit for installing a variety of energy efficient devices. These include solar water heaters, passive solar space heaters, and more. The amount of the credit, however, is based on the square footage of the home as well as on the certification level of the energy efficient device.
When it comes to saving money while installing environmentally friendly gadgets in your home, it is a good idea to check with your state in order to learn more about available credits and rebates. Although changing out your technology to make it eco-friendly can be a bit costly, these credits and rebates can make it far more affordable.
