The awards for switching to alternative and renewable energy sources are very generous.
The financial benefits for changing to renewable energy systems, have become really rather generous. Congress recently did away with the caps on 30 percent tax credits for homeowners who install solar panels, geothermal heat pumps, or windmills. Now a $24,000 investment to make a home solar-powered would generate a federal tax credit worth $7,200. (Before the stimulus, credits were capped at $2,000 for geothermal and solar; $4,000 for wind).
Now affordability ballgame has changed because of these tax code revisions says Craig Perkins, executive director of the Energy Coalition, a nonprofit in Irvine, Calif., that helps consumers become more energy-efficient. He has estimated that more than 1 in 4 Californians can now borrow the funds necessary to install solar panels and be paying less out-of-pocket per month immediately (including payments on solar panels) rather than keep keep getting power from their regular utility company . Yet others, he says, will often recoup the costs of adding solar or high-efficiency air conditioning over a few years.
One of the keys to make the most of savings, Perkins says, is to choose the projects that qualify for a rebate from one’s state or utility and are also eligible for a federal tax credit. The type of “piggybacking” is allowed and encouraged. The challenge, however is to get consumers to research their options and to take the necessary actions to make this happen.
“The problem we find constantly is that [navigating incentives] can be extremely confusing,” Mr. Perkins says. “People don’t want to become wonks about what’s eligible and what isn’t…. It’s the nuts and bolts of making it happen that really stops a lot people.”
Merchandisers have begun to educate consumers about new tax benefits. At Home & Hearth, a heating stove dealer in Hampton Falls, N.H., manager Bob King was talking up tax credits with every customer hours after Congress passed the stimulus bill. With brochure in his hand, Jim Marshall of Exeter, N.H., liked hearing from Mr. King in the store’s parking lot that a new wood pellet stove would qualify. He’d like to make a switch and stop spending more than $300 per month for oil heat.


The awards for switching to alternative and renewable energy sources are very generous.
“Most of the time, this can make the high-efficiency product cheaper than the low-efficiency product.”
By greening your garage you can help green the rest of your lifestyle.

There has been a strong movement and it has been gaining ground