What Is An Energy Star Tax Credit?
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Posted On :
Apr-23-2010
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Article Word Count :
487
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Exactly what is Energy Star? It's a joint program between the EPA and DOE that will help all of us save money and protect the environment by using energy efficient products and practicing energy efficiency.
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Exactly what is Energy Star? It's a joint program between the EPA and DOE that will help all of us save money and protect the environment by using energy efficient products and practicing energy efficiency.
So how is a product rated as and Energy Star product? The EPA label was created to make it easy for consumers like you and I, identify and purchase energy-efficient products. Products that would reduce our use of electricity, yet still provide the same quality and style that we were accustomed to.
Energy Star appliances have been around for years. Products can earn the label by meeting the energy efficiency requirements that the EPA and DOE established based on a set of guiding principals. These principals state that a product must contribute significantly to energy savings nationwide; they must deliver the features and performance demanded by consumers in addition to the increased energy efficiency; the cost of the product above a conventional, less efficient product must be recoverably through lower utility bills within a reasonable period of time; the energy consumption and the performance of the product can be measured and verified.
So you may wonder why you should be interested in Energy Star and what’s really in it for you. By installing Energy Star doors and windows, you can reduce your cooling and heating bills each year, saving you money. Everyone likes to save money and this is an easy way to help do just that.
Did you know that just by upgrading household appliances to Energy Star you can get tax credits? The credit, which can be up to 30% of the total cost to a limit of $1,500, is only good until December 31, 2010. However, it covers a multitude of home repairs that you probably would have to make anyway if you live in a home that is more than 15 years old. Some examples of repairs that qualify for the credit are new insulation or additional insulation, new windows and doors, including sliding glass doors, and roofs, including the more popular metal roofing. All of these improvements will save you money in the long run, and improve the environment, but are a little more costly to purchase and install at the beginning. Additionally, there is a 30% tax credit available, with no upper limit, through 2016 on geothermal heat pumps, solar panels, and small wind energy systems for private use.
For example, you install all new energy efficient windows, additionally installation in the attic, and a new storm door. You spend approximately $3000 for the products. You will get a tax credit of $900, plus your electric bill will be dramatically reduced for heating and cooling your home. Add solar panels to your home for a hot water heater and you can save even more. It's all about getting us to "go green" and saving us "green" at the same time.
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Article Source :
http://www.articleseen.com/Article_What Is An Energy Star Tax Credit?_16925.aspx
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Author Resource :
Tim Kress writes articles about Avery Ranch real estate, Round Rock Real Estate, Mayfield Ranch real estate, Cedar Park Real Estate, and surrounding areas. Other articles written by the #1 REMAX Team in Austin and Austin TX Real Estate can be found online. Tim Kress and team are with REMAX 1 in Cedar Park, Texas.
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Keywords :
Round Rock Real Estate, Avery Ranch real estate, Mayfield Ranch real estate,
Category :
Finance
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Taxes
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