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!!
*****UPDATE*****
Part of the lovely Stimulus package that people either love or hate from Feb. 2009 has extended the Federal Tax Credit through 2010. But still consider making these changes on Memorial Day weekend!
Stephanie, this sounds like an excellent excuse to go shopping for new appliances and doors!
What great information. Keep em' coming as far as I am concerned. Help out the small people and add equity too.
Thank you for the post, I re-blogged hoping MI will pay attention.
Hi Patricia, I went last year and bought some small things. Thinking about doing some of the larger things this year. :)
Hi Ellie, I really hope they extend the energy efficient tax credit at the Federal level. That would be great!
Hi Angie, :0) I hope they listen. It sounds like they are trying to do some good things up there though. Thanks for stopping by and reblogging!
What a great combination! ENERGY STAR is the way to go, no reason to pay extra for unneeded energy while contributing to greenhouse gasses and depleting resources!
Hi Stephanie,
Congratulations! Great post!
Hi Stephanie! Congrats on your big win! Great article and the timing is perfect. Everyone is working on saving money these days and this is great information to help cut back on utility bills and get tax credits!
Hi Stephanie, That tax free day is so cool (or will be when they get their new air conditioning unit!) Consumers need to make sure that the new windows are the right type & manufacturer to qualify for the tax credit. Consumers need to inquire before they buy!
Good post Stephanie, and congrats on second place.
Stephanie! Congratulations on the recognition you received for this great post! You Rock and keep it up!
Its great that they are encouraging energy efficieny. They are a great investment over the long run, both for the owner and the environment.
Great job Steph as usual. Sounds like something Nevada should do:)
I think its actually a 30% credit up and they raised the cap to $1,500 in most cases: http://www.energystar.gov/index.cfm?c=products.pr_tax_credits
Charles Stillman
Houston Outreach Coordinator for 1SKY & TCEC
Founder of Bayou City Green
Ambassador for GreenNexxus
Project Director for CLEAN