Cool Consumer Incentives
As summer comes to a close, there’s still time to reap the benefits of cool tax credits for making your home an energy efficient haven. Both state and federal energy efficiency programs encourage homeowners to take advantage of purchase and improvement incentives that will save consumers money down the road and deliver significant energy savings.
A number of Virginia Departments are making it easy for consumers to invest in energy efficient appliances. Along with tax credits, Virginia residents can purchase Energy Star products of $2,500 or less, tax free, October 7 – 10, 2011.
The Virginia Energy Efficient Appliance Rebate Program offers up to $500 in rebates for installing residential appliances including:
- Heat Pump, Air Source
- Natural Gas or Propane Furnace
- Heat Pump/Water Heater
- Tankless Natural Gas or Propane Water Heater
- Clothes Washer
- Room Air Conditioner
- Central Air Conditioner
While some federal tax credits end this year, others will extend through 2016. The Database of State Incentives for Renewables & Efficiency (DSIRE) is a comprehensive catalog of state, local, utility and federal incentives and policies. Included in the database are the following products eligible for the Energy Efficiency Tax Credit through 2011:
- Water Heaters (non-solar)
- Windows, Doors and Skylights
If you haven’t taken steps to improve your home this year, don’t worry. It’s not too late. In fact, consumers are encouraged to look into the future with more sustainable energy options. The DOE has implemented the Renewable Energy Tax Credit and the following products are eligible for tax credits through 2016:
- Geothermal Heat Pump
- Solar Energy Systems
- Wind Energy Systems
- Fuel Cells
If any of these home improvement jobs or products sound familiar to you or you are in the market for new appliances, explore the information available and see which of your purchases or improvements are eligible for tax credits. For more information about these incentives, tax credits and other ways you can help Virginia “Value Your Power”, visit the incentives section of our website.