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Beating the sell-by dates on green tax credits
comments (0) March 19th, 2009 in Blogs
Richard Defendorf, contributor
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Much as we’d all like to get billions from the economic bailout package, most of us are not “too big to fail.” But as we’ve noted here before – and as a recent Wall Street Journal story discusses in helpful detail – many homeowners with an interest in energy-efficiency improvements can capture at least some bailout cash.
We’re of course talking about the dollar-for-dollar tax incentives that apply to installation of qualifying windows, doors, insulation, roofs, heating and cooling equipment, water heaters, and other appliances this year and next. The maximum tax credit for these improvements is $1,500.
And the Journal also notes that a potentially bigger tax break – a credit of up to 30% of qualifying expenses, with no upper limit through 2016 – is available with the installation of solar-energy systems, small wind turbines, or geothermal wells.
Perhaps most important, though, is that the story emphasizes (and re-emphasizes) the relatively short self life of these perks, which means it’s up to manufacturers, builders, and remodelers to market them in timely and, given consumers’ current aversion to spending, creative ways.
"It's a big deal -- it's a really big deal," Jeff Irish, owner of Hudson Valley Clean Energy, which sells solar and geothermal systems, told the paper, adding that he doesn't expect to raise his prices because of the credit, particularly given the current state of the economy. "We just want to sell more systems."
posted in: Blogs, business, energy efficiency, green building
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