Going green may not only be a good thing to do for the environment it can also end up saving you money. Boulder is an environmentally friendly place, from Climate Smart, to green building regulations, to a new solar array at the water treatment plant, going green is everywhere. With the new energy star tax credits and rebates it makes for everyone to do their part. Here are the details of the program.
What is Energy Star? Energy star is a government backed program established in 1992 that provides an international standard for energy efficient consumer products. Products that have the Energy Star seal meet the requirements set forth by the Environmental Protection Agency and the U.S. Department of Energy. The idea is to promote the use of products that will save energy and therefore the environment.
If you are considering a new appliance, furnace or home electronic go to Energy Star Rebate Center and enter your zip code check what type of product you are interested in and see if there are rebates available. These rebates are offered through the manufacturers.
This is a new program. Federal tax credits up to $1,500 are available when some energy efficient home improvements are completed. For details of the program click here. The home improvements must be placed in service between January 1, 2009 and December 31, 2010 and are only available for upgrades done on a principal residence. The tax credit is for 30% of the cost of the qualifying product for up to a total combined maximum of $1,500 per household. I can see this really coming in handy when an inspection calls for a new furnace. Most of the time the seller just wants to put in the basic, cheapest model. These are usually 80% efficient. They have no incentive to pay more money up front because they will not reap the energy savings in the future. Depending upon price, the seller may be able to save a bit of money by putting in a 95% efficient furnace and the buyers will be happy because their energy bills will be lower into the future.
This brings up an important point, energy star rated products tend to be more expensive up front but make up for it in the long run by saving money every month in the form of reduced energy bills.