It is possible to save money on your energy bills and receive a tax credit! There are several ongoing incentive programs, and by investing in energy efficient products, you save money on both your energy bill and your taxes.
Federal Income Tax Credits:
If you purchase an energy-efficient product or renewable energy system for your home, you may be eligible for a federal tax credit. This would be a tax credit of 30% of the cost of the product or installation. For a list of eligible products and how to apply for this tax credit, visit Energy Star’s Website.
Local Tax Credits and Incentive Programs:
For a list of local Houston tax credits and incentive programs for energy efficiency improvements, visit DSIRE’s webpage.
Memorial Day Weekend:
During Memorial Day weekend, purchases of energy efficient products are exempt from state sales and use tax. This three-day tax holiday begins on the Saturday preceding the last Monday in May, ending on the last Monday in May. In 2010, this weekend takes place from the 29-31 of May. The state sals and use tax rates are currently set to 6.25%, which will be exempt for this weekend for certain eligible products. For a list of the eligible products, visit this page on DSIRE’s website.
Texas Trade Up Appliance Rebate Program:
The Texas Trade Up Appliance Rebate Program encourages consumers to replace old (but functional) appliances with new, energy efficient, ENERGY STAR® or CEE qualified models to stimulate the Texas economy and increasing energy conservation efforts in Texas.
Rebate reservations will be accepted online, through http://www.texaspowerfulsmart.org/rebate, or toll-free, via 1-877-780-3039, beginning on April 5, 2010, at 7 a.m. CT. The purchase period for all appliances begins April 16, 2010. Appliances must be purchased from a Texas retail location or contractor. Online purchases are not eligible.
The following appliances qualify:
- Refrigerators
- Freezers
- Room Air Conditioners
- Clothes Washers
- Dishwashers
- Central Air Conditioners
(including heating and ventilation)
- Air-Source Heat Pumps
- Hot Water Heaters
Texas residents who apply for a rebate must replace an old, but functional, appliance from one of the eligible categories with a new ENERGY STAR or CEE qualified appliance. For more information, and exact program details, visit this website: http://www.texaspowerfulsmart.org/rebate. |
