New Energy Bill & Tax Breaks
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Provisions in the U.S. energy bill signed by President Bush August 2005 could save you money.
Beginning January 1, 2005, homeowners will be eligible for tax credits for energy improvements they make in their homes.
You could get a tax credit:
1. up to $300 for purchase a new and more energy-efficient central air conditioner, heat pump or water heater.
2. for purchase of energy-efficient windows as much as $200.
3. 30 percent tax credit up to $2000 if you purchase a solar-powered water heater or any fuel-cell equipment for your home.
These tax credits will apply to your federal income tax, and improvements must be made between Jan. 1 and
Some utility companies also offer rebates for energy-consuming heating/cooling systems and appliances. Some rebates are offered at the beginning of the calendar year, for as long as money allotted to them lasts.
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Attribution: Home & Garden, The
