As the 40th anniversary of Earth Day passes, the Metropolitan Builders Association (MBA) is reminding home owners that they can use fewer resources and save big money by taking advantage of federal energy efficiency tax credits through the end of the year.
Home owners who purchase qualifying water heaters, windows, air conditioning units and other appliances, insulation and roofing can be eligible for tax code section 25C tax credit, equivalent to 30 percent of the cost. There¹s a $1,500 overall limit for purchases made in 2009 and 2010. Learn the details .
"These tax credits enable homeowners to save money, save energy, and be a good steward of the Earth¹s resources," said MBA President Elect, Ed Miller, of E., Miller & Associates, Inc. "Taking steps to make your home greener in honor of Earth Day makes everyone a winner."
In addition to the Federal Tax Credit mentioned above, homeowners can double their impact by taking advantage of state programs that offer rebates for qualifying improvements. Visit www.dsireusa.org and click on Wisconsin for a list of incentive programs available in our state.
A generous credit for appliances that use renewable energy is also in effect through 2016. The section 25D credit applies to 30 percent of the total cost of solar panels for electricity or hot water, wind power equipment and the installation of geothermal heat pump systems. This credit can be used in conjunction with new or existing homes. "These renewable systems may be more expensive up front, but often create significant savings in the long term," said Mike Coello, of Coello & Associates, Inc. "Both the 25C and the 25D credits are worth investigating.
Ask your MBA builder or remodeler member to help you make the right choice."
