Archive for the ‘Energy Star’ tag
The government actually wants to give back some of your money? The Energy Star appliance rebates and tax credits program will be beneficial if you purchase energy efficient appliances for your home. Of course, as with every program, there are stipulations and limitations but overall there are many options available for homeowners. These rebates and tax credits are only obtainable for homeowners, and certain credits are not offered for new construction.
The Energy Star appliance rebates and tax credits are designed to get Americans to upgrade their current appliances and are strongly encouraging consumers to recycle their old appliances. These rebates and tax credits only apply if replacing older models. The government is hoping to save energy, wear and tear on the environment, and money for consumers. Individual states and territories have their own rebate system for whatever appliances would be in greatest need, either weather-related or environmental for their area of the country.
If you are looking for rebates, your local state has agreements with certain suppliers that have agreed to give rebates when specific appliances are purchased. Generally, the list of appliances includes dishwashers, water heaters, refrigerators, and freezer, among others.
If you are looking for a tax credit you will probably see a greater amount return to you in the long-run. The government is willing to give generous tax credits to homeowners who purchase energy saving devices such as fuel cells, small wind turbines, solar panels and solar powered devices, special air or heating units, certain roofing materials, insulation, and specific windows and doors. As stated earlier, there are specifications, so check into your particular state for details.
When getting rid of your old appliances, look up state energy conservation offices or local recycling centers that will accept your appliances. Make sure that you get a record of your donation – you will need it to submit your claim for a tax refund or rebate.
There are time limits on the Energy Star appliance rebates and tax credits. Make sure that you qualify for your purchase soon before time – or money – run out.
- Are Energy Efficient Appliances Tax Deductible? (turbotax.intuit.com)
Bret G is an avid energy saving fan, he enjoys writing and rock climbing.
With recent legislation and changes to the tax code, homeowners are discovering that now is the time to go green. Federal tax credits and deductions, combined with many state tax incentives, are making environmentally friendly home improvements a popular investment.
- The Fed’s 1.6 trillion ‘somethings’ (ftalphaville.ft.com)
- What Are Energy Tax Credits? (turbotax.intuit.com)
Seraphim is a foe of paying more than he has to, He is a tax expert specializing in tax deductions.