Do You Qualify For $4,000 Home Energy Max Benefit?

Bay Area Energy Group will be holding a special evening September 26th, 2012 at 6:00pm.

By appointment only! Limited to the first 15 individuals. Call 408 359 7470 to reserve your seat!

Learn about all the incredible incentives, tax credits, rebates and savings programs available to home owners! There are incredible Federal, state, county, city, utility and private programs you can apply for and receive up to $4,000 dollars in benefits!

Now is the time to upgrade and save!

Home Energy Grants and Assistance Programs

The US government provides home energy grants to help homeowners cover part of the costs of weatherizing their homes or installing alternative energy technologies such as solar and wind power. Grants are available at the local, state and federal levels. There are also incentives and loan programs for energy-efficient appliances. These grants are usually provided to households with low to moderate income levels. Availability of the grant depends on the location of the home receiving the home improvement.

Low Income Home Energy Assistance Program

Low-income or elderly people can apply for assistance in paying for heating and cooling costs. LIHEAP is state-administered, using funds from the federal government as well as from local utilities. Your state’s energy assistance director can provide help and information about qualifying for this home grant.

Weatherization Assistance Program (WAP)

This program is managed by state governments and its implementation varies by state. In general, eligibility for the Weatherization Assistance Program depends on your income level. The program provides energy audits and helps pay for insulation as well as heating and cooling systems, electrical appliances, water heaters, etc. that improve your home’s energy efficiency. The government sets a limit on the amount. The average amount spent in a single household is about $6,500.

Energy Star Tax Credit

Most states offer an energy program that provides funding and home grants for residential energy efficiency. Individuals who may not qualify for weatherization assistance may be able to benefit from the Energy Star tax credit implemented by the Department of Energy. A tax credit is given to those purchasing and installing energy efficient products, windows, doors, roofs, water heaters, insulation, roofs, biomass stoves, etc.

Alternative and renewable energy systems such as solar panels, wind energy systems, solar water heaters and the like are also eligible for a tax credit of 30% of the cost.

State and Utility Rebates and Tax Incentives

There are states and utilities that offer rebates, loans and tax incentives for making your home more energy efficient. These programs vary widely by state. Many of these programs include funding for installing renewable and alternative energy systems in your home.

Energy Issues and the Environment

Energy consumption is directly related to environmental issues. When energy is conserved, carbon dioxide and other harmful emissions are reduced. This helps keep the environment cleaner.

Reducing energy consumption and costs benefits everyone. That is why the government is implementing all these home energy grants to encourage people to become more responsible citizens of the world by taking that first step towards making their homes more energy-efficient.

Call right now to speak with Bryan or Dennis and let us help you qualify for the maximum home energy programs benefit of $4,000! Call 408 359 7470 now.

Tax Benefits of Purchasing Energy Efficient Appliances

Many people have heard of tax credits for energy efficient purchases. The good news is they extend to appliances as well. You can get a tax rebate and save money on your utility bill.

A tax credit is a very valuable thing and is much better than a tax deduction. A tax credit comes directly off the amount of taxes due rather than reducing your taxable income. The United States has recently approved some tax credits for the purchase of energy efficient homes and products. For the most part, these products are air conditioning and heating units and solar energy products. The tax credits for appliances are available for the manufacturers of washing machines, dryers, and refrigerators.

In order to qualify for tax credits, the manufacturer must be making washing machines or dryers that conform to 2007 Energy Star specifications. Refrigerators must exceed the 2001 energy conservation standards. This might come as a disappointment to the individual tax payer, but it really should not. The taxpayer stands to benefit from this tax break policy to manufacturers in two different ways.

First, by giving tax breaks to the manufacturers, it encourages them to meet Energy Star standards in order to qualify for them. In the long run, the consumer is the one who is benefiting from the Energy Star standards being met in major appliances. The rising cost of energy and the environmental concerns of high energy consumption are problems that touch every individual consumer. We really should not need any tax credit to encourage us to save money and the more Energy Star appliances on the market, the better for us.

The second way that individuals stand to benefit from tax breaks to the manufacturers is that by making their profitability higher, it encourages them to produce better products and still have the ability to offer them at more competitive prices. It is said that every appliance has two price tags. The first is the one we pay at the point of purchase and the second is the cost of operating the appliance during its lifetime. In a perfect world, everyone would understand this and refuse to settle for an energy inefficient product despite its lower initial cost. We do not live in a perfect world, however, and too many people make their buying decisions based only on that first price tag.

Also, do not forget the individual tax credits on heating and air conditioning units. These credits can be applied to individual tax returns and go up to $300 for certain approved units. People may be disappointed that their new Energy Star approved washer and dryer does not help reduce their income tax when April rolls around, but this is an extremely selfish point of view. The government sponsored Energy Star program already is working to save us money on energy costs and each of us has a stake in the environmental concerns too. It should not be necessary to bribe us via tax credits to make sound financial and environmental decisions when shopping for a major appliance.

Credits For Energy Efficiency

If you want to start making your home more energy efficient with new appliances, windows or more, it does not have to cost you a lot of money. Did you know you can actually get tax credit for your qualifying purchase? That’s right, on many products you can get “reimbursed” for 30% of the original cost of the product that was purchased. Not only will you be able to save money right from the start on making these purchases, you will notice your energy bill will be much lower than it was. Many qualifying purchases are the Energy Star appliances which cut down your costs because these appliances use only a fraction of the energy normal appliances consume. Look for the Energy Star label on things such as windows and appliances, along with the Energy Guide labels that estimate how efficient the product is.

Consumers itemize these purchases on their income tax form, the tax credit will lower what they owe in taxes dollar-for-dollar. Many states also offer rebates to consumers with energy efficient homes. Be sure to check for your state’s website for more information on these rebates. Do research on products before purchasing them to make sure they qualify. Make sure to keep your receipts so you can itemize these products on your taxes.

To qualify for the tax credit for home improvements, the product needs to be installed between January 2009 and December 2010. If you get windows or doors that are qualified for energy efficiency, you can get a federal tax credit from the United States government for 30% of your purchase, up to $1,500. This amount can also be applied to roofing, insulation, central air conditioning, oil furnaces, and water heaters. If you buy a qualifying Geo-Thermal heat pump, there is not a cap on the amount spent. You will be getting back 30% of the price of the product. If you are looking into alternative energy such as solar panels or wind energy you can get the credit for 30% of the cost of the product.

Some examples of rebates you can look for in your state can be like Alaska, they are offering lower interest rates for mortgages on houses that you would purchase already energy efficient or if you need a loan to improve the energy efficiency of your house. In Arizona they will give you a rebate depending on how efficient your new air conditioning unit is. States like Colorado and Illinois and more offer rebates for purchasing energy efficient appliances through your utilities provider.

If you are thinking about improving your existing home or purchasing a new one that is more energy efficient, not only will it save you money in the long run of energy expenses, but make sure to check into rebates in your state. On top of that, make sure before purchasing new appliances, windows, or other upgrades that you check into how it can help with your income taxes. In order to save a substantial amount of money in your energy expenses, just make sure to do some research on the products and your rebates.

What’s All The Hype About Energy Rebates?

“Did you know that you can change your lights to LEDs and in addition to saving 50 to 80 percent on your utility bill each month, you can get more money back on top of your savings to help pay for your new lighting?

It sounds unbelievable, but it can happen with energy rebates. These incentives offered by the state as well as local utility companies put cash in your pocket for transitioning to energy-efficient appliances in your home. The funny thing is, very few people actually take advantage of this. In fact, one of the things I could never understand in the many years I have been involved in the energy conservation world is why it was so hard to convince someone to take advantage of their rebates and savings! We are so brainwashed to believe everyone telling us something ‘too good to be true’ has to be a scam that we miss out on some of the easiest ways to save money, especially during tough economic times.

Rebates are available in many forms. There are federal tax credits, city and community rebates, manufactures rebates and utility rebates. Because there are so many different rebates available, it would be impossible for me to explain all of them in detail but I will give you enough information to help you navigate through the rebate waters on your savings rowboat. But it will be up to you to stroke the oars, so here we go!

When it comes to federal tax rebates, 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.

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). Now this act can take days of reading over and over again to fully understand it so I am going to keep it simple and applicable to Commercial Building Lighting.

The Interim Lighting Rule is a slide scale that ranges from 25% of savings for a $.30 per square foot tax cut all the way to a maximum of 40% of savings for a $.60 per square foot tax cut. Warehouses must achieve a 50% reduction in power in order to qualify for a $.60 per square foot tax credit. So generally if you convert your lighting to LED which normally saves 50% or more you may be eligible for a $.60 per square foot tax credit.

Utility and local rebates vary drastically so it would be difficult for me to explain every rebate in every state but check out http://www.dsireusa.org. This website lists all the rebates available in your state.

I am sure you too will be impressed and amazed at all the rebates available. So what are you waiting for? You have budgets to cut this year so why not start with your lighting, the easiest and quickest way to save and get money back from Uncle Sam!

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