Ok, so they don't fall as much in Arizona as in other parts of the country but we do stop using the air conditioner! So how energy efficient is your home? Do you know there are tax credits and rebates out there to help you improve your carbon footprint?
You can earn a tax credit for installing insulation, Energy Star windows and exterior doors, Energy Star gas tankless water heaters, wind or solar panels and select central A/C and heaters. The IRS issued notice 2009-53 to help manufacturers identify which products will qualify for the tax credits.
You can check out the IRS website at http://www.irs.gov/ for more detailed information. Also, here is a site that will help you decide which projects to tackle http://www.irs.gov/newsroom/article/0,,id=206869,00.html. For additional tax help, contact your tax advisor.
The credits are available for 2009 and 2010 so now would be a good time to take advantage of the credits. You can do part of your home updates now for the 2009 tax year and either continue the updates in January for the 2010 year or wait till fall of 2010.
Also check the website for your local energy provider as well. Some offer additional incentives on top of the tax credits and manufacturers rebates which can really lower the costs to "Go Green"! Plus, having a green home has been shown to have positive impacts on the sale of the home as well.
So if you like saving money, want to help the environment, and want to protect the investment in your home then now is a good time to tackle those projects and make the earth and your wallet happier at the same time.
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