Energy Efficiency Tax Credits - What Are They and Who Are They For?

Energy Efficiency Tax Credits - What Are They and Who Are They For?

Perhaps one of the most obvious reasons why many individuals are choosing to go green is because they're hoping to receive energy efficiency tax credits. The Energy Policy Act was originally introduced in 2005, and it has been amended since then in order to encourage more people to check into eco-friendly solutions.

Under President Obama, act has been extended a great deal, and is now known as the American Recovery and Reinvestment Act of 2009. Consumers who wish to use energy-efficient vehicles, utilities, and resources MAY be eligible for tax incentives and state rebates. The laws very from state to state and county to county.

Some of the tax credits available are intended for those who wish to improve their homes, residences, and vehicles by using renewable energy and making energy efficiency improvements. Choosing to go green is a wise choice, not only because it's helpful to the environment, but because the homeowners may be eligible for energy efficiency tax credits as well.

Consumers who choose to install products such as windows, cooling and heating equipment, insulation, roofs, etc., may be able to receive a tax credit for 30% of the cost, just as long as the products are used to improve the energy efficiency of their homes. The tax credit can be 30% of up to $1,500, and can be good from now through December 31, 2010.

There are also tax credits for residential renewable energy and automobiles. Consumers who feel they may be eligible for energy efficiency tax credits, whether for their homes, vehicles, or other residences they own, need to check with their state laws to find out what their best options are.

There is a lot of great information online about energy efficiency tax credits and the laws concerning them. If you'd like to go green with your home and/or vehicle, make sure you understand energy efficiency tax credits and what they're for.

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