Last Chance for Homeowners to Reduce Federal Income Taxes With Energy-Efficiency Tax Credits

Unless Congress acts quickly to extend federal income tax credits worth up to $500 per household, these incentives for homeowners to increase their homes' energy efficiency will expire on December 31.

Washington, D.C., December 2007 - The window is closing for homeowners to take advantage of valuable federal income tax credits for energy-efficiency home improvements, advises the Alliance to Save Energy. Unless Congress acts quickly to extend the tax credits worth up to $500 per household, these federal incentives for homeowners to increase their homes' energy efficiency will expire on December 31.


Consumers are facing heating costs of nearly $1,000 this winter - an 11 percent increase from last year - and have seen overall 2007 home energy costs spiral to $2,100, according to Energy Information Administration data. By installing the qualifying energy-efficiency home improvements before the end of this year, they can cut their 2007 incomes taxes by as much at $500, enjoy lower home energy costs and increased indoor comfort for years to come, and reduce their carbon footprints.

All the details on the tax credits can be found at www.ase.org/taxcredits - a bilingual English/Spanish website developed by the U.S. Department of Energy (DOE) and the Alliance.

Home improvement tax credits are available for:
• Insulation and exterior doors, including storm doors: 10 percent of the cost of the product (but not the installation), up to $500. Includes materials to seal air leaks such as caulk, weather stripping, and foam sealants.
• Central air conditioner, heat pump, or water heater: Up to $300 towards the full purchase price, including installation costs.
• Exterior windows, skylights, and storm windows: 10 percent of the total cost, up to $200. All windows with the ENERGY STAR label, the government's symbol for energy efficiency, qualify.
• Pigmented metal roofs: 10 percent of the cost of the product (but not the installation), up to $500 for metal roofs with pigmented coatings that meet ENERGY STAR requirements.
• Furnace or boiler: Up to $150 towards the full purchase price, and/or $50 for an efficient air-circulating fan in a furnace, including installation cost.

The DOE/Alliance tax credit website spells out the stringent efficiency requirements for heating and cooling equipment.
####
The Alliance to Save Energy is a coalition of prominent business, government, environmental, and consumer leaders who promote the efficient and clean use of energy worldwide to benefit consumers, the environment, economy, and national security.

Featured Product

SolarEdge Technologies - EV Charging Single Phase Inverter

SolarEdge Technologies - EV Charging Single Phase Inverter

The SolarEdge PV inverter combines sophisticated digital control technology with efficient power SolarEdge's EV charging single phase inverter offers homeowners the ability to charge electric vehicles up to six times faster than a standard Level 1 charger through an innovative solar boost mode that utilizes grid and PV charging simultaneously. This product is the world's first EV charger with an integrated PV inverter. Reducing the hassle of installing separately a standalone EV charger and a PV inverter, the EV charging inverter eliminates the need for additional wiring, conduit and a breaker installation. By installing an EV charger that is integrated with an inverter, no additional dedicated circuit breaker is needed, saving space and ruling out a potential upgrade to the main distribution panel. Whether you own an EV now or just want to be EV-ready, future-proof your home with SolarEdge.