If you're anything like me, this whole gazillion dollar stimulus plan has got you simply befuddled. Good idea, bad idea, Republicans, Democrats, CitiBank, Chrysler...Huh?
But, I have some good news that is comprehensible by green fans everywhere! There is money hidden away in this stimulus plan that is designated specifically for making greenish updates to your home! This is helpful in defraying the extra cost that sometimes comes along with trying to be energy-efficient. I don't have all the details, and you would certainly want to do your research before making any major purchases/renovations but this is something to think about if you have any big remodeling plans in the next few years.
Some of the qualifiers for a 30% tax credit are residential solar power systems, small wind turbines for the home, central A/C units, biomass or pellet stoves, water heaters, windows, doors, and skylights (as long as their U-factor is 0.3 or less), electric heat pumps, roofing and insulation, furnaces and hot water boilers. If solar power or wind turbines are what you crave, (my dream home in my mind has a wind turbine in the yard for sure) there is no cap on the 30% rebate. The other items on the list add up and cap at $1,500. What an awesome way for the government to encourage responsible citizens to conserve Earth's resources!
A few other tax rebates that are proving to be helpful in this area:
-Allowances for $230/month pre-tax money to take public transit to work. This amount is up from $120/month in previous years.Hop on the train (or in Lincoln, the bus) and conserve some gasoline!
-There is a $7,500 rebate for purchasing a hybrid electric car this year. For hybrids that are not electric, rebates vary and you can check with http://www.fueleconomy.gov/ for updated lists of rebates.
-The tax rebate given to college students for tuition can also be applied to supplies, including the Kindle wireless reading device (which can cut down on a student's paper waste!)
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