Energy Efficiency Benefits

Energy Efficiency Benefits

Secretary Chu recently announced a reminder to all US citizens in regards to the American Recovery and Reinvestment Act that they can receive tax benefits all virtually all improvements to their home that can improve the home’s energy efficiency – such as the installation of insulation, energy-efficient appliances and newer water heaters – of up to $1,500. Designed to encourage the development of existing homes to more energy-efficient dwellings the Act grants up to 30% tax benefits throughout 2010 for all home owners looking to improve their home’s efficiency throughout the year, with now being a prime time prior to the onset of summer months and potentially substantially higher energy bills in regards to air conditioning and other usages of high-energy appliances.

With the tax filing date fast approaching many home owners should be looking towards improving their home’s efficiency sooner rather than later, as studies indicate that converting most existing homes to more energy efficient standards through even simply non-invasive measures such as changing out even doors and windows can help cut energy costs by up to 40% and equate to even higher savings year round.

Additionally, any home that is looking at supplementing their energy consumption through the installation of solar panels, wind turbines or other energy generation devices can receive up to 30% of the costs of the systems in tax credits as incentive to develop a sustainable home energy environment. By combining both energy production and energy efficiency many home owners could potentially virtually eliminate their energy needs throughout most of the year and, with a large enough system tied into their utility network, possibly even generate money during some months where their energy draw may be low yet production may be particularly high (such as if a home has installed solar panels yet uses relatively little energy during the summer months for cooling purposes).

Home owners should investigate with their local government representatives for exact details on all credits and plans available in their areas as some locations offer additional incentives as well that could help offset costs and make any installation well worth it in both the short and long run.

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