Financial Advantages of Renewable Energy

Green energy can result in substantial savings for homeowers. © Yury Ponomarev - Fotolia.com

Why go green in your home energy production? In addition to significant environmental factors, there’s the financial aspect. Unless you’re independently wealthy, saving money is a pretty powerful motivator.

Tax Incentives and Rebates for Residential Properties

If you’ve been hesitating to improve your home or business by installing renewable energy, you might want to rethink that plan. The U.S. federal government is currently offering tax credits through the American Recovery and Reinvestment Act. Other agencies, including possibly your own state or local community, are offering incentives, too.

For example, the U.S. Department of Energy website offers the following:

RESIDENTIAL RENEWABLE ENERGY TAX CREDITS
Consumers who install solar energy systems (including solar water heating and solar electric systems), small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems can receive a 30% tax credit for systems placed in service before December 31, 2016; the previous tax credit cap no longer applies.

You can find “state, local, state, local, utility and federal incentives and policies that promote renewable energy and energy efficiency” on the Database of State Incentives for Renewables and Efficiency (DSIRE) website.

While your utility company most likely posts rebate information there, it doesn’t hurt to check the company’s own website as well.

Energy Savings

How much can you save by installing wind, solar, or geothermal energy? That depends on your geography, your habits, and the cost of energy in your locale. One great resource to learn about the relative savings from various technologies and devices is the U.S. Department of Energy’s Energy Efficiency and Renewable Energy  (EERE) website.

So, what are you waiting for? Find out how much you can save, and get started learning about adding renewable energy to your home today.

J.M. Ratliff

Publisher

Green Energy Guru

 

 

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