Energy Efficiency, Energy Efficiency, Energy Efficiency. It is all we have heard for about a year and is one of the Hottest topics in the 2009 State of Texas Legislative Session. However, in Houston we may NOT want to wait to see what happens this year - We should probably consider making the changes NOW!
Part of the infamous Bailout last October was to extend some Federal Tax Credits for Energy Efficiency and Renewable Energy. While the Solar Tax Credits were improved AND extended through 2016, The Tax Credit for Energy Efficient Improvements was ONLY extended through 2009!
The Federal Tax Credit includes:
- Windows and Doors
- Insulation
- HVAC
- Water Heaters
- AND MORE
Now, The Tax Credit is for 10% of the cost and UP TO $500 -
While that may not have you running to the Phone Book to find a Contractor, let's consider making these changes ON MEMORIAL DAY WEEKEND May 23-25 2009 -
Odd, I know, that I would recommend only doing this on ONE Weekend a year - Let me Explain.
The State of Texas has scheduled the Tax Free Weekend for Energy Star Items again this year! It's on Memorial Day weekend and for what is Energy Star Rated, IT IS TAX FREE! Here is what falls under the Tax Abatement:
- A/C Systems priced Under $6,000
- Programmable Thermostats
- Ceiling Fans
- Dishwashers
- Dehumidifiers (which could go under A/C)
- LIGHT BULBS (STOCK UP FOR THE YEAR OR TWO!)
- Refrigerators under $2000
Under the State of Texas Program this sometimes will also include some Installation/Delivery costs AND will work on all Online Purchases!!
So now, if you combine the two this year - You can get $500 back on your 2009 Tax Return AND save at least 8% on Tax when Buying it on Memorial Day Weekend! Here's a breakdown:
- $400 Dishwasher - $33 in tax
- $50 Programmable Thermostat - $4.13 in tax
- HVAC based on $3000 System - $247.50 in tax
- Water Heater - $16.50 in tax
You could potentially save A LOT of money. If you decide to only do the ones that can qualify TWICE you may want to consider an HVAC System and Water Heater over Memorial Day.
Let's hope that the Federal Incentive is extended past 2009 but I know for a fact that some Energy Efficiency items that I was personally holding off on, I'm going to do this year.
If you decide to take advantage of these items, be sure to stop back by and let us know how much you save!!
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Hi Tricia! Thanks for reblogging this!
From my understanding...the 'bailout' the other day extended the Federall Tax Credit for energy efficiency was extended through 2010. Great!