Stimulus Bill Extends Energy Efficiency Tax Credit

Because negativity, whining and otherwise just Chicken Little type complaining makes me tired I always try to find the positive side to things. Since the Big News has been the Stimulus Package the past couple days, that's where I was trying to find something positive. 

It should be no surprise that Energy Efficiency and Green Collar Jobs have a potential WIN with the Bill. I ran across an article on CNET that laid out much of this information and MORE

• Tax Credits for projects that have Electricity derived from Biomass, Landfills, etc. were extended through 2013.  

Which we will Desperately NEED because they are now offering a $7500 Tax Credit for Plug In Electric Vehicles.  That should put a nice little strain on some already Taxed Grids throughout the US.

• The $2000 Cap on the 30 percent Tax Credit for Solar Hot Water was lifted and now matches the 30% on Solar from the October Bailout.

Which Homeowners in Houston TOTALLY wish they had during Hurricane Ike last year when we had no power for weeks on end!

• $30B to spend on Smart Grid, Advanced Batteries and Energy Efficiency
  

Although much of the Energy Efficiency will go toward Federal Buildings - Advanced Batteries for Solar Systems is Fantastic!

All of that is great, but probably the ONE thing that I am personally the MOST excited about is this- According to the article that I read on CNET:

"To retrofit existing homes to be more efficient, the bill extends and expands tax credits for purchase "such as new furnaces, energy-efficient windows and doors, or insulation," according to the committee report. The House and Senate versions extended these credits to 2010 and increased the level to 30 percent with a cap of $1,500 on combined purchases, according to Environment and Energy Daily (subscription required)."

These credits were set to expire at the end of 2009.  With much education still in order for Homeowners on how to Make the Homes more Energy Efficient, I am THRILLED that this was in there.

So, you have another year to replace your Furnace, get new insulation and all that other SEXY GREEN stuff that makes your electric bill lower!