Money in the Bank-Efficiency Upgrading

In one of our recent blogs we touched on how you can find a few more tax deductions, thanks to Uncle Sam and last year's Recovery and Reinvestment Act (AKA: The Stimulus Bill). Today we'd like to touch on a few more things to think about.

Qualifications for the 30% deduction guidelines are much tougher than in the 2006-2007 program. First, all improvements must have taken place after February 17, 2009. Second, be sure, as we mentioned before, that when you are buying products (windows, skylights, insulation, etc.) that you either see a label with the Energy Star label or you request a Maufacturer Certification Statement that the product or component qualifies for the tax credit.

Another great idea is that consumers who want to generate their own power are eligible for renewable energy tax credits on projects completed through 2016 (including alternative-energy equipment connected to your house, such as solar water heaters, geothermal heat pumps, small wind turbines, and other similar projects).

Be sure and check out the following resources:

To review guidelines for qualifying purchases visit the IRS website.
To find guidelines on what qualifies for both tax credits visit Energy Star.
To find state and local energy efficiency assistance available visit U.S. Department of Energy

What's Happening in Your Home?

Stop for a moment. Think about the place you live in right now.

The average American spends 14 hours out of everyday within their home. What are you encountering while you are there?

What is covering your floors? What kind of paints are on your walls? What cleaning products are you currently using?

Are your windows old and drafty? Do you have curtains or blinds hanging up?

What material is your home or living space insulated with? How efficient are your appliances at doing their specific job?

Do you spray your home for bugs? Do you treat your lawn, shrubs, or other plants?

Have you bought a new mattress or new furniture over the past year? What types of toiletry products do you have sitting inside your cabinets and use on your body on a daily basis?

Over time, we will discuss all of the topics mentioned above within our Greenovation Builders blog, as we feel they are imperative to learning more on how to create and maintain a green home.

BY HEIDI TANKERSLEY