Federal Energy Efficiency Rebates Explained: A Tip From Gulfport

You’ve probably seen the advertisements and heard the sales pitches all over Gulfport. Upgrade your furnace, air conditioner, or insulation and receive a federal rebate on your taxes for a percentage of the installation cost. The government is seriously invested in improving the energy efficiency of the country, cutting electric bills and helping people stay comfortable. Here’s a quick look at some of those rebates and how you can tap into them.

Energy Efficiency Credits

There is a standard tax credit of 10% of the cost up to $500 or a specific amount between $50 and $300 for any upgrade made to your existing home for heating, ventilation, air conditioning, insulation, roofs, or water heaters. These upgrades must be made on an existing home in which you currently live – rentals and new construction homes are not eligible.

Are the Tax Credits Worth It?

The big question is whether these credits are worth the investment in a brand new system? For the most part, it depends on your particular situation. If you have a 30 year old furnace and are planning on an upgrade anyways, why not take advantage of a nice rebate and get a more energy efficient system to go with it? However, if you just replaced your furnace three years ago and it works very well with a high energy efficiency rating, it might not be worth the investment.

Learn More

The Energy Star program run by the EPA contains detailed breakdowns of the 2011 tax credits, including what systems are eligible and how to go about claiming them on next year’s taxes. Learn more by visiting their official page.

Tags: , , ,

Comments are closed.