Tag Archives: Residential Energy Credits
Energy-Saving Tax Credits
Posted on 31. Dec, 2009 by admin.
Going “green” has become all the rage lately, with more people embracing energy-saving tactics at home and at work. But Mother Earth isn’t the only one who stands to benefit from the emphasis on eco-friendliness—did you know that you can earn significant tax credits for energy-efficient improvements?
Earlier this year, the American Recovery and Reinvestment Act (ARRA) outlined some new and expanded tax benefits for individuals and business owners who invest in energy-saving appliances, improvements, or alternate energy sources that result in reduced usage and conserved resources.
Homeowners can earn a tax credit of up to 10% of the cost of solar energy systems, energy-efficient construction, or other alternate energy sources. This isn’t just a deduction of your income—it’s a full credit that is deducted directly from the amount of taxes you’re required to pay.
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