Customers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in existing homes can receive a tax credit for 30% of the cost, up to $1,500, for improvements "placed in service" starting January 1, 2009, through December 31, 2010. See EnergyStar.gov for a complete summary of energy efficiency tax credits available to consumers. A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed.
Energy-efficient improvements not only make your home more comfortable, they can yield long-term financial rewards. Reduced utility bills more than make up for the higher price of energy-efficient appliances and improvements over their lifetimes.
Many appliances continue to draw a small amount of power when they are switched off. These "phantom" loads occur in most appliances that use electricity, such as VCRs, televisions, stereos, computers, and kitchen appliances. These phantom loads can be avoided by unplugging the appliance or using a power strip and using the switch on the power strip to cut all power to the appliance. Whenever you replace an appliance or electronic device, look for the Energy Star rating.
To start your pursuit of energy efficiency, please visit Dawson Power's website and go to the online energy audit page to see where you can save energy.
How We Use Energy in Our Homes
Heating accounts for the biggest chunk of a typical utility bill. Source: 2007 Buildings Energy Data Book, Table 4.2.1., 2005 energy cost data.
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