Homeowners have until the end of December to grab up to $1,500 in tax credits for energy efficiency improvements.
The federal tax credit, which is in addition to numerous rebates available statewide, covers 30 percent of the cost for energy-efficient improvements including heating, ventilation and air conditioning systems, doors and windows, insulation, furnaces and water heaters, up to $1,500. The service must be completed or the equipment must be installed by December 31, and the work must be done on an existing home. New construction does not qualify.
The tax credit is funded partially by the American Recovery and Reinvestment Act, and is intended to stimulate local economies while helping homeowners improve their energy efficiency.
“This tax credit is a huge boost to homeowners who want to make their houses more energy efficient, but may not have the funds,” said Tom Plant, executive director of the Governor’s Energy Office. “Many of the services that can be credited also have rebates available through our RechargeColorado.com website, multiplying the savings. So the time to act is now, before the tax credit expires.”
Detailed information about the tax credits is available at http://www.energystar.gov/index.cfm?c=tax_credits.tx_index.
The GEO launched its Recharge Colorado website in spring 2010 to help consumers and businesses cash in on $18 million of American Recovery and Reinvestment Act funded rebates designed to promote energy efficiency. Although there has been great demand for rebates, millions of dollars still remain available for many categories including: ENERGY STAR appliances, gas condensing furnaces (up to $500), insulation and air sealing (up to $600), duct sealing (up to $150), energy audits (up to $100), energy monitors (up to $100), and renewable energy technologies.
In some cases, rebates from Recharge Colorado can be combined with local, utility and manufacturer incentives for even greater savings — all of which can be found with one simple resource: RechargeColorado.com. Funding for certain rebates varies across the state, depending on local government and utility participation. To find out if a rebate is available in your area, go to RechargeColorado.com. It typically takes less than three minutes to find which rebates are available and to complete the application.
The Governor’s Energy Office is encouraging residents who are going to make the purchase regardless of the availability of the rebate to apply online and send in the required paperwork.? That way, if reservations expire and funds become available, they may be eligible to receive a rebate from Recharge Colorado.? Further, we are discouraging residents who don’t have a reservation from proceeding with this process if their purchase is dependent upon the guarantee of a rebate.
For more information on these incentives and others in our local area, contact the Four Corners Office for Resource Efficiency (4CORE) by phone at (970) 259-1916, by e-mail at firstname.lastname@example.org, or on the Web at www.fourcore.org.