Deciding where to invest you money is difficult, and weighing the return on investment against the initial cost is important. Luckily there are multiple state and federal incentive programs to help offset the cost of a home performance renovation. Part of our work at Sound Home Performance is to help you navigate these programs. Below is information about some of the current rebates, tax credits, incentives, and energy efficiency loans available.
Efficiency – The Federal Stimulus Tax Credit created in 2008 makes a 30% ($1,500 limit) tax credit available for qualifying products (does not include labor costs) including insulation, windows and doors, HVAC and hot water appliances. This credit is available through December 31, 2010
Renewables- The tax credits for both Photovoltaic’s and solar hot water were recently uncapped, making a full 30% tax credit available for materials and labor for the installation of a renewable energy system. This credit is good through 2016.
For more information on Federal Tax Credits visit the ENERGY STAR website
Depending on your local utility, there are numerous incentive programs for both energy efficiency and renewables. The most up-to-date listing of these incentives can be found on The Database of State Incentives for Renewable Energy (DSIRE) website. For complete information about current programs incentivizing renewables visit our parent company Puget Sound Solar.
Although energy efficiency loans are difficult to find in this economy, we have worked with one credit union that offers fantastic loan products for homeowners looking to improve to do energy efficiency retrofits on their home: Puget Sound Cooperative Credit Union. Energy efficiency loans through PSCCU may have terms up to 15 years, loan amounts up to $25,000, and rates as low at 4.74%. More information about these loans can be found here.