Cut energy bills in the coming year by increasing efficiency and receive tax incentives from the federal government for upgrades. The incentives are available as a result of the Energy Policy Act of 2005 (EPAct). To review valuable information on these new federal income tax incentives, visit the Tax Incentives Assistance Project (TIAP) website. This online resource was created to help individuals and businesses increase energy efficiency and cut their energy and federal tax bills.
In a release issued by the American Council for an Energy-Efficient Economy (ACEEE), one of many organizations that is part of the TIAP coalition, the new law is explained: “Consumers and businesses can receive tax incentives for specific energy-efficiency upgrades to homes and commercial buildings, such as upgrades to home insulation and windows and commercial building lighting improvements. In addition, the law includes tax credits for energy-saving technologies such as hybrid vehicles, appliances, heating and cooling systems, solar energy systems, and high-efficiency new home and commercial building construction.”
“We hope consumers and businesses will log onto the TIAP website to get the information they need to lower their energy bills and their federal income tax liability,” says Steven Nadel, executive director, ACEEE. “Another advantage of this federal policy is to grow the marketplace for energy-efficient technologies so that product availability can increase and product prices decline, providing long-term benefits even after the tax incentives expire.”
To view the TIAP website, visit (www.energytaxincentives.org).