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awakening2lite
04-13-2009, 06:07 PM
US Govt Tax Incentives & Rebates


Funding Opportunities for Green Buildings

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Numerous sources of funding for green building are available at the national, state and local levels for homeowners, industry, government organizations and nonprofits. We are providing the links on this page to help you find a variety of funding sources including grants, tax-credits, loans, or others. Please contact us with suggestions to add other green building funding opportunities not listed on this page. EPA does not currently provide funding to support green building projects.

Funding Opportunities for Green Buildings (http://www.epa.gov/greenbuilding/tools/funding.htm)


New Energy Efficient Home & Vehicle Tax Credits

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President Bush has signed into law new consumer tax credits for energy efficiency home improvements, as well as purchases of plug-in hybrid vehicles. These provisions were included in H.R. 1424, the Emergency Economic Stabilization Act of 2008, which the president signed on October 3, 2008. The homeowner tax credits are largely the same but not identical to those that expired at the end of 2007, and begin again on January 1, 2009.

Taxpayers who claimed some but not all of the $500 federal income tax credit for energy efficiency home improvements that was in effect in tax years 2006 and 2007 may utilize the unused portion in 2009, the IRS has informed the Alliance to Save Energy. Please consult your tax advisor for details.



New Energy Efficient Home & Vehicle Tax Credits (http://www.ase.org/content/article/detail/2654)


U.S. Department of Energy- Consumer Tax Incentives

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About Tax Credits

A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. Consumers can itemize purchases on their federal income tax form, which will lower the total amount of tax they owe the government.

U.S. Department of Energy- Consumer Tax Incentives (http://www.energy.gov/taxbreaks.htm)


US Energy Star Tax Credits For Energy Efficiency

On October 3, 2008, President Bush signed into law the "Emergency Economic Stabilization Act of 2008." This bill extended tax credits for energy efficient home improvements (windows, doors, roofs, insulation, HVAC, and non-solar water heaters). Tax credits for these residential products, which had expired at the end of 2007, will now be available for improvements made during 2009. However, improvements made during 2008 are not eligible for a tax credit.

The bill also extended tax credits for solar energy systems and fuel cells to 2016. New tax credits were established for small wind energy systems and plug-in hybrid electric vehicles. Tax credits for builders of new energy efficient homes and tax deductions for owners and designers of energy efficient commercial buildings were also extended.



US Energy Star Tax Credits For Energy Efficiency (http://www.energystar.gov/index.cfm?c=products.pr_tax_credits)


US Business Energy Tax Credit

The federal business energy tax credits available under 26 USC 48 were expanded significantly by the Energy Improvement and Extension Act of 2008 (H.R. 1424), enacted in October 2008. The new law extended the duration -- by eight years -- of the existing credits for solar energy, fuel cells and microturbines; increased the credit amount for fuel cells; established new credits for small wind-energy systems, geothermal heat pumps, and combined heat and power (CHP) systems; extended eligibility for the credits to utilities; and allowed taxpayers to take the credit against the alternative minimum tax (AMT), subject to certain limitations.

Credits are available for eligible systems placed into service on or before December 31, 2016:*

US Business Energy Tax Credit (http://www.dsireusa.org/library/includes/incentive2.cfm?incentive_code=us02f&state=federal&currentpageid=1)


US Residental Solar & Fuel Cell Tax Credit

Established by the Energy Policy Act of 2005, the federal tax credit for residential energy property initially applied to solar electric systems, solar water heating systems and fuel cells. The Energy Improvement and Extension Act of 2008 (H.R. 1424, Division B) extended the tax credit to small wind energy systems and geothermal heat pumps, effective January 1, 2008. Other key revisions included an eight-year extension of the credit to December 31, 2016, the ability to take the credit against the alternative minimum tax, and the removal of the $2,000 credit limit for solar electric systems beginning in 2009.


US Residental Solar & Fuel Cell Tax Credit (http://www.dsireusa.org/library/includes/incentive2.cfm?incentive_code=us37f&state=federal&currentpageid=1)


US FCIC Energy Efficient Mortgages (EEM)

When you are buying, selling, refinancing, or remodeling your home, you can increase your comfort and actually save money by using the Energy Efficient Mortgage (EEM). It is easy to use, federally recognized, and can be applied to most home mortgages. EEMs provide the borrower with special benefits when purchasing a home that is energy efficient, or can be made efficient through the installation of energy-saving improvements.



US FCIC Energy Efficient Mortgages (EEM) (http://www.pueblo.gsa.gov/cic_text/housing/energy_mort/energy-mortgage.htm)


US HUD Energy Efficient Mortgage (EEM)

The Energy Efficient Mortgages Program (EEM) helps homebuyers or homeowners save money on utility bills by enabling them to finance the cost of adding energy-efficiency features to new or existing housing as part of their FHA-insured home purchase or refinancing mortgage.



US HUD Energy Efficient Mortgage (EEM) (http://www.hud.gov/offices/hsg/sfh/eem/energy-r.cfm)
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awakening2lite
04-13-2009, 06:15 PM
Learn more about US Tax Rebates and Incentives

Consumer Energy Tax Incentives

What the American Recovery and Reinvestment Act Means to You The American Recovery and Reinvestment Act of 2009 extended many consumer tax incentives originally introduced in the Energy Policy Act of 2005 (EPACT) and amended in the Emergency Economic Stabilization Act of 2008 (P.L. 110-343). Businesses, utilities, and governments (http://www.energy.gov/additionaltaxbreaks.htm) are also eligible for tax credits.
See the summary of the energy tax incentives included in the Emergency Economic Stabilization Act of 2008 (http://www.energy.gov/media/HR_1424.pdf).

About Tax Credits

A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. Consumers can itemize purchases on their federal income tax form, which will lower the total amount of tax they owe the government.

Fuel-efficient vehicles and energy-efficient appliances and products provide many benefits such as better gas mileage –meaning lower gasoline costs, fewer emissions, lower energy bills, increased indoor comfort, and reduced air pollution.

In addition to federal tax incentives, some consumers will also be eligible for utility or state rebates, as well as state tax incentives for energy-efficient homes, vehicles and equipment. Each state’s energy office web site may have more information on specific state tax information.


Below is a summary of many of the tax credits available to consumers. Please see the ENERGY STAR® page on Federal Tax Credits for Energy Efficiency (http://www.energystar.gov/index.cfm?c=products.pr_tax_credits) for complete details.

Home Energy Efficiency Improvement Tax Credits

Consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in existing homes can receive a tax credit for 30% of the cost, up to $1,500, for improvements "placed in service" starting January 1, 2009, through December 31, 2010. See EnergyStar.gov (http://www.energystar.gov/index.cfm?c=products.pr_tax_credits) for a complete summary of energy efficiency tax credits available to consumers.

Residential Renewable Energy Tax Credits

Consumers who install solar energy systems (including solar water heating and solar electric systems), small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems can receive a 30% tax credit for systems placed in service before December 31, 2016; the previous tax credit cap no longer applies.

Automobile Tax Credits

Hybrid Gas-Electric and Alternative Fuel Vehicles

Individuals and businesses who buy or lease a new hybrid gas-electric car or truck are eligible for an income tax credit for vehicles “placed in service” starting January 1, 2006, and purchased on or before December 31, 2010. The amount of the credit depends on the fuel economy, the weight of the vehicle, and whether the tax credit has been or is being phased out. Hybrid vehicles that use less gasoline than the average vehicle of similar weight and that meet an emissions standard qualify for the credit.

This tax credit will be phased out for each manufacturer once that company has sold 60,000 eligible vehicles. At that point, the tax credit for each company’s vehicles will be gradually reduced over the course fifteen months. See the IRS's Summary of the Credit for Qualified Hybrid Vehicles (http://www.irs.gov/businesses/corporations/article/0,,id=203122,00.html) for information on the status of specific vehicle eligibility.

Alternative-fuel vehicles, diesel vehicles with advanced lean-burn technologies, and fuel-cell vehicles are also eligible for tax credits. See the IRS summary of credits available for Alternative Motor Vehicles (http://www.irs.gov/businesses/corporations/article/0,,id=202341,00.html).

Plug-In Electric Vehicles

Plug-in electric vehicles also qualify for a tax credit starting January 1, 2010. The credit for passenger vehicles and light trucks ranges from $2,500 to $7,500, depending on batter capacity. The first 200,000 vehicles sold by each manufacturer are eligible for the full tax credit; the credit will then phase out over a year.

Plug-In Hybrid Conversion Kits

Hybrid vehicle owners who purchase a qualified plug-in hybrid conversion kit are eligible for a 10% credit, capped at $4,000, through 2011.


* Sources: ENERGYSTAR.gov (http://www.energystar.gov/) and IRS.gov (http://www.irs.gov/)
** The IRS will determine final tax credit amounts. As more information becomes available, it will be posted on our website.


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