Saving Money by Going Green: Knowing Your State’s Incentives

Did you know that many states are now offering incentives to residents for energy-efficient upgrades to their home? To determine what’s available in your state, one great resource is the online Database of State Incentives for Renewables and Efficiency (http://www.dsireuse.org). This website continuously updates their listings, so check it often to see what programs and rebates you can benefit from.

From the DSIRE homepage, click on your state for a comprehensive list of state policies and incentives. For any particular rebate, it’s important to consider the available details. Click on the name of the rebate program to review the specific terms, deadlines, and application procedures to make sure that you can get the most money back for your conservation investments.

With all of the incentives out there, choosing the best energy-efficiency investment decisions and green product purchases can be a challenge. Making sure to follow the correct steps in obtaining your rebate can also be overwhelming. Your local Green Irene Eco-Consultant is the perfect local resource to help you make sense of your state incentives and determine the best path for you to follow on the road to energy efficiency. Your Eco-Consultant can also introduce you to Green Irene’s full line of green products, including products that qualify for local rebates! For instance, there is currently a rebate available in Arizona and Nevada that offsets much of the cost of the low-flow shower head that Green Irene offers. Contact your Eco-Consultant today, and take advantage of your local energy-efficiency incentives while they last!

Green Irene Guide to the Stimulus Packages

Overview

The Green Irene Guide to the Stimulus Packages provides you with information about federal incentives that can help homes and small businesses go green. The Stimulus Packages, officially known as the Economic Recovery Act of 2008 and the American Recovery and Reinvestment Act of 2009, were signed by Presidents George Bush and Barack Obama to address the economic recession. We want our clients to capitalize on these incentives as much as possible. If there ever was a time for homes and small businesses to go green, this is the time. The federal government will help our clients go green much more easily and cost-effectively. Make sure you take advantage of this opportunity!

Below are the provisions of the Stimulus Packages by category that are applicable to homes. For information about incentives for small businesses, click here.

Energy Efficiency Deployment ($2 billion over ten years)

· Tax credits (not deductions)for energy efficient home improvements are extended through 2010 and increased from 10% to 30% of qualified expenses paid for efficiency upgrades (up to $1,500). Efficiency upgrades include:

- Energy-Star central air conditioners and heat pumps;
- Energy-Star furnaces and boilers;
- Energy-Star windows, doors, and roofing;
- Code-appropriate insulation and sealing;
- Energy-Star ground-source heat pumps; and
- Solar water heaters and biogas or biomass stoves.

Alternative Fuels and Efficient Vehicles ($2.1 billion over ten years)

· Business and individual tax credits for alternative fuel pumps and refueling infrastructure is temporarily increased from 30% to 50% of qualifying costs for 2009 and 2010, with the exception of hydrogen fueling pumps, which remain capped at 30%.
· Increases tax credit for purchase of plug-in hybrid electric vehicles, allowing larger credits for vehicles with larger batteries. The base amount of the credit is $2,500. If the qualified vehicle draws propulsion from a battery with at least 5 kilowatt hours of capacity, the credit is increased by $417, plus another $417 for each kilowatt hour of battery capacity in excess of 5 kilowatt hours up to 16 kilowatt hours. The amount can go up to $3,500 for non-plug-ins and to $7,500 for plug-ins.

Clean Energy Deployment ($872 million over ten years)

· Provides a full 30% credit for small wind and solar generators aside from the home improvement provision.This is in addition to state and local tax credits.

What do I need to do to get the tax credit?

You will need to file IRS Form 5695 with your taxes. In addition, you will need to keep at least receipts proving that you purchased the improvements and a copy of the manufacturer’s certification (or the ENERGY STAR label for windows). Accountants and tax advisors should also be able to provide more guidance.

To learn more, please visit the following resources:

Alliance to Save Energy: http://www.ase.org/content/article/detail/2654

Database of State Incentives for Renewables & Efficiency: http://www.dsireusa.org/

Department of Energy: http://www.energy.gov/recovery/index.htm

Energy Efficiency and Renewable Energy: http://www.eere.energy.gov/

Energy Star: http://www.energystar.gov

NJ Clean Energy Program (Energy Efficiency and Renewable Energy): http://www.njcleanenergy.com/

Pennsylvania Keystone Home Energy Loan Program: http://www.keystonehelp.com/

PSE&G Solar Loan Program: http://www.pseg.com/customer/solar/index.jsp?WT.mc_id=solarloan

Tax Incentives Assistance Project (Includes IRS Forms): http://www.energytaxincentives.org/

Weatherization Assistance Program: http://apps1.eere.energy.gov/weatherization/

Rosamaria Caballero Stafford
Co-Founder and the Original Green Irene

Tax Credits and Other Incentives for Green Improvements

Ever wonder whether the federal government or your own state government provides incentives for you to go green? The federal and state governments are some of the biggest proponents of green home improvements. They provide attractive tax credits that substantially reduce the cost of going green for homes and small businesses. From making your home more energy efficient to installing renewable energy systems to purchasing hybrid vehicles, government incentives can help you go green much more easily. There is not reason why homes and small businesses should not take advantage of these!

For example, under the 2008 bailout,the federal government offers tax credits for home energy efficiency improvements of up to nearly $1,000. If you purchase a hybrid car, you can get a tax credit ranging from $250 to $3500 depending on the characteristics of the car. There are also tax credits, of up to 30%, for solar and small wind energy systems.

With the recently approved American Recovery and Reinvestment Act (the Stimulus Package), there are even many more incentives. The federal government is committed to helping American homes go green and creating hundreds of thousands of new green jobs. And this is only the federal government. You can go down to the state and even local level to find even more incentives (for example, for solar energy in California and New Jersey).

Your Local Green Irene can provide more details about such tax credits. As part of the Green Home Makeover, you will can also gain access to Ask Green Irene, our green database, for three months or more. With this service, you can find out specific details about federal, state, and local incentives to help your home go green!

Rosamaria Caballero Stafford
Co-Founder and the Original Green Irene