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Re-activateIf you're planning to replace your doors, water heater, or windows with more-efficient products, you can still qualify for federal tax credits for these and other home improvements, courtesy of the Energy Policy Act of 2005. What's more, the act's original expiration date of December 31, 2007, has been extended to the end of 2008 for certain projects, including installing solar-power equipment. Most of the federal credits top off at $500 total.
Even after the federal credits have expired, you might still be able to enjoy some other energy perks from your state or from your electric utility. You'll find contact information for the energy office in your state here. Also check out the Database of State Incentives for Renewables & Efficiency, an ongoing project of the North Carolina Solar Center and the Interstate Renewable Energy Council funded by the U.S. Department of Energy.
As of the end of September, some of the available incentives include:
• Vermont's Efficiency Vermont program, which offers rebates for Energy Star-qualified products; the rebates range from $1.50 per compact fluorescent lightbulb to $100 for a central-air system.
• Paulding-Putnam Electric Cooperative's rebates of $850 or $1,200 to customers in Indiana and Ohio who purchase a new heat pump.
• California's and New York's low-interest loans or tax deductions on loan interest for making specific green improvements, such as adding windows, insulation, or heating/cooling equipment.
Whichever improvements you're considering, read the fine print on whether a product or project qualifies and that your purchase and installation time frames satisfy the terms of a given offer.—Ed Perratore
Essential information: Read our money-saving advice on appliances and home improvements.
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