Government Incentives for Switching to Green Energy
There is no better time than the present to make the switch to green energy. Gas and electricity prices are rising at a distressing rate and are sure to keep doing so. Increasing numbers of families and business owners have to make tough budget cuts just to meet these rising costs. Changing over to green energy will not only save you money day to day but will also qualify you for many government incentives, earning you even more. There are various tiers of incentives available, from the federal level all the way down to the local level.
The U.S. government has been taking steps toward clean energy sources and a healthier environment for years. As part of this mission, it offers literally thousands of tax breaks and other financial incentives for the use of green energy. If you are considering changing over to green energy, or if you just wish to become more energy-efficient, a great place to start searching for incentives is the Energy Star website. It provides an easy to understand list of current tax credits, including details about how to qualify.
There are currently incentives available for fuel-efficient upgrades such as heating/ cooling, insulation, windows, roofs, and water heaters. You can also garner much bigger breaks for installing a geothermal heat pump, wind power, solar power, or residential fuel cell power systems. Many of these credits will earn you up to 30% cash back on your cost. Another great resource, the U.S. Department of Energy website provides an Alternative Fuels and Advanced Vehicle data center which lists incentives, grants, and tax credits for switching to green energy for your car.
State governments offer their own tax breaks and incentives to encourage citizens to go green. A great place to start searching for these is the Database of State Incentives for Renewables and Efficiency (DSIRE). A multitude of tax credits, exemptions, grants, loans, and rebates are available to aid you with almost any aspect of energy efficiency or renewable energy. The database is easy to use, with listings broken down by state. As a bonus, the DSIRE site also lists federal grants and loans for both business and residential consumers.
In addition to these great incentives, it is wise to check for any perks that may be offered by your local government. In many areas, cities in particular, local governments present many tax breaks and incentives to help in the switch to green energy. It is even possible in some areas to get your building permits expedited (or free) when you wish to install or modify your building in a green way.
As you transition from traditional energy to greener alternatives, make sure to research your options. You can greatly reduce the sometimes-high cost of installing your new components by taking advantages of the many tax credits, incentives, and grants available to you.
