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Convenience, efficiency and energy savings are reasons enough to invest in new home technologies. But energy efficient technology choices can also earn you extra money through local, state or federal energy rebates. These rebates come in many forms, from property and sales tax exemptions to loans and grants. There are thousands of such programs in the U.S., but they are often not widely promoted or publicized.
It pays to do a little research about these programs when you are considering technology upgrades for your home. Here are some examples of what you will find.
This is a personal tax credit applied for the use of solar-electric systems, solar water heating systems and fuel cells, small wind-energy systems and geothermal heat pumps. A taxpayer may claim a credit of 30 percent of qualified expenditures for a system that serves their residence anywhere in the U.S.
This program offers a rebate of up to $2,500 for a basic upgrade package, and up to $4,500 for an advanced upgrade package, covering energy efficient technologies such as central air conditioning, duct/air sealing, furnaces, insulation and more. The program connects homeowners with qualified contractors, and helps them find all available incentives.
Covering water heaters, furnaces, central air, programmable thermostats, solar heat, photovoltaics, geothermal heat pumps and more, this program exempts the homeowner from 100 percent of the value added to the residence as a result of the improvements.
In this program, Texas offers a three-day window, typically the Memorial Day weekend, during which consumers can purchase ENERGY STAR products and get a break on state and local sales and use taxes on their purchases. The program covers air conditioners, refrigerators, washing machines, dehumidifiers, programmable thermostats and more.
The ECO-Link program offers Ohio homeowners reduced rate financing for energy efficiency and renewable energy home upgrades. It covers central air, dehumidifiers, refirgerators, water heaters, window air conditioners, duct sealing, washing machines and more. It provides a 3 percent rate reduction up to $50,000 in savings over a 7-year bank loan.
There are thousands of energy-efficiency rebates and incentives like these available all across the country. A good place to start looking is the DSIRE Database of State Incentives for Renewables and Efficiency. You might as well capitalize as much as you can on your decision to go energy efficient.
This article and its content are sponsored by Mitsubishi Electric US Inc., Cooling & Heating Division.