Home Energy Credits – Now!
August 10, 2009 by Taxcut Editor
Filed under Taxcut Blogs on Energy Savings
Current tax law provides two credits for energy-efficient improvements to a taxpayer’s residence: the Nonbusiness Energy Property Credit and the Residential Energy Efficient Property Credit. These tax credits reduce a taxpayer’s tax bill dollar-for-dollar for 30% of the cost of qualifying energy-efficient home improvements. The credits apply for years 2009-2010 and 2008-2017, respectively.
Qualifying property includes common improvements such as windows, doors, and roofs, furnaces & water heaters. Also available for the credit are solar electric and water heating, fuel cell, small wind energy, and geothermal heat pump property.
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Tax credits making solar energy more affordable
July 21, 2009 by Taxcut Editor
Filed under Personal and Business Taxes, Taxcut Blogs on Energy Savings
C.B. Helms has been waiting for affordable solar technology since President Jimmy Carter was in office.
With federal and state tax credits on a solar hot water system totaling $3,500 – more than half the cost of installation – Helms said the time is now. Helms, a Gaston native and HVAC contractor since 1978, and his son Destry recently opened Solar Now, a Gastonia business specializing in thermal solar water heating.
Depending on a family’s needs, a customer could save around 30 percent on a monthly electric bill, recouping the cost of the system in three to seven years. After that, the thermal panels – built to last about 25 years – heat water during much of the year at no cost, Helms said.
“You can start seeing your money working for you,” said C.B. Helms, who recently installed a system on his own home. “It’s eventually going to pay for itself and you looking at 14 years of free solar energy. It’s here.”
With one panel on his roof, Helms said he and his wife are saving about $53 a month on their electric bill. A family of four might need two panels to heat all of their hot water. The more hot water you use, the greater your savings with solar, he said.
The solar system:
Their thermal solar collectors, manufactured by Cary-based Solar H2Ot, contain copper pipes that heat water as it circulates through the panel to an apparatus mounted on a standard electric water heater. The electric water heater acts as a back up, especially in cold winter months when days are shorter. But even in the winter, thermal solar panels still provide about 85 percent of the energy needed to heat household water, said Destry Helms.
The Helms started researching different solar hot water systems in November and they opened for business not long after 2009 began. The systems application and installation is simple enough for any HVAC or plumbing contractor to understand, but C.B. Helms said consumers should go with a certified contractor because “it’s got to be done right.”
And the system itself must be certified by the Solar Rating Certification Corp. for the homeowner to qualify for federal tax credits. To claim the N.C. property tax exemption, the system must be new.
The Solar H2Ot collection panels are typically 4-feet by 8-feet, but also come 4×10 and 4×6, and have the appearance of an oversized skylight, Destry Helms said. When thermal solar technology first emerged more than 30 years ago, a solar thermal hot water system required four or five collectors, but today’s panels holds about 95 percent of the heat it absorbs, he said.
“For a two person house, one panel does fine,” he said. “I don’t see the technology for thermal getting any better.”
Other solar options:
Solar thermal hot water systems can also be connected to air handlers and duct work that provide space heat or, in new construction, piping beneath the living space for radiant heated floors.
Solar Now will eventually distribute photovoltaic solar systems used to supply electricity as well, but that technology is not a cost effective option for consumers, yet. C.B. Helms said a photovoltaic system might cost $30,000 to install on a residence. With the average monthly electricity bill of about $100, the consumer probably wouldn’t recoup that cost over the life of the system.
However, tax credits, a more efficient thin film in collector plates and payments made solar households that produce excess power for the electrical grid could make photovoltaic systems much more affordable in the near future, C.B. Helms said.
Right now, C.B. Helms said they are tying to make the push for solar thermal, but despite the potential cost savings, most dealers havent been enthusiastic about the product. Solar Now is trying to educate consumers because “the consumer is going to be the one driving this engine,” he said
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Green Energy Certification
July 10, 2009 by Taxcut Editor
Filed under Taxcut Blogs on Energy Savings
The Center for Resource Solutions announced today that the REC product “Eco Renewable Energy Credits,” is now Green-e(R) Energy Certified. Ecoelectrons Renewable Energy joins the growing network of renewable energy providers that offer products certified by Green-e Energy, the nation’s leading certification and verification program for renewable energy.
“We are very pleased to announce that Ecoelectrons Renewable Energy will participate in Green-e Energy by offering a certified renewable energy option to its customers” said Alex Pennock, Green-e Energy Manager. “Ecoelectrons Renewable Energy’s customized REC solutions have just made it even easier for businesses and institutions nationwide to reduce the environmental impact of the electricity they use.”
Ecoelectrons Renewable Energy can now offer their wholesale and commercial clients a flexible suite of renewable energy products. By purchasing Eco Renewable Energy Credits, customers will support currently available renewable resources as well as aid the development of new renewable resources to be built in North America.
“We have had a lot of interest from businesses that want to reduce their environmental impact and contribute in a transparent and meaningful manner” said Rahul Chitrapu, Co-founder of Ecoelectrons. “Green-e Energy Certified renewable energy does just that. Our customers can be certain that they are obtaining the highest quality environmental product that makes a real difference. We are very proud to partner with Green-e Energy.”
Green-e Energy is the leading renewable energy certification and verification program in the U.S., with over 190 participating vendors that sold over 15 million MWhs of renewable energy in 2007. The program provides independent, third party certification to ensure certified renewable energy meets strict environmental and consumer protection standards.
Providers of Green-e Energy Certified renewable energy agree to abide by the Green-e Energy Code of Conduct, and meet strict disclosure and truth-in-advertising requirements. All marketers of Green-e Energy Certified products undergo an annual verification audit to document that the company purchased and/or generated enough quantity and type of renewable energy to meet customer demand and marketing claims.
The Green-e logo, the national symbol for renewable energy excellence, enables a growing number of consumers to easily identify high quality, certified renewable energy options, as well as everyday consumer products that are produced by companies that use renewable energy in their operations.
About Ecoelectrons
Ecoelectrons helps businesses quantify and reduce their carbon footprints by supplying Renewable Energy Credits. Renewable electricity, such as that from wind power generators, is more expensive to produce than conventional fossil fuel and nuclear power sources. Renewable Energy Credits add a premium to renewable generation and their purchasers become owners of the environmental attributes of renewable electricity. Please visit www.ecoelectrons.com for more info.
About Green-e Energy
Green-e is the nation’s leading independent consumer protection program for the sale of renewable energy and greenhouse gas reductions in the retail market. Green-e offers certification and verification of renewable energy and greenhouse gas mitigation products through Green-e Energy, a renewable energy certification program; Green-e Climate, a greenhouse gas emission reduction certification program; and Green-e Marketplace, a program that licenses the Green-e logo for organizations that purchase or generate sufficient quantities of renewable energy. To learn more about Green-e certified products and programs available in all 50 states, visit www.green-e.org.
About Center for Resource Solutions
Green-e is a program of Center for Resource Solutions (CRS), a San Francisco-based nonprofit with a global impact. CRS brings forth expert responses to pertinent climate change issues with the speed and effectiveness necessary to provide real-time solutions to ongoing environmental problems. CRS’s leadership through collaboration and environmental innovation builds policies and consumer protection mechanisms that foster healthy and sustained growth in national and international markets for environmental solutions to climate change including renewable energy and energy efficiency. To learn more, visit www.resource-solutions.org.
IGNCT is Green Energy certified.
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U.S. Demand for Green Building Materials to Hit $80 Billion by 2013
July 9, 2009 by Taxcut Editor
Filed under Taxcut Blogs on Energy Savings
U.S. Demand for Green Building Materials to Hit $80 Billion by 2013
We’ve heard that the value of green construction starts could reach $140 billion by 2013, but what about the market for green building materials? Now, thanks to a report by the Freedonia Group, Inc., we have some numbers to look at. According to the Green Building Materials to 2013 report released in February 2009, U.S. demand for green building products is expected to reach $80 billion by 2013. The market is currently at $57 billion, representing a whopping average 7.2% annual increase over the next five years.
Apparently, and I say apparently because the study is $4,700.00 and we haven’t purchased it, the main driver for growth in demand will be an overall recovery in the residential market. Certainly the USGBC’s emphasis on green materials will provide a boost, too. Here are a few snapshots of information in the report:
FSC certified lumbar and wood products will be the fastest growing segment of the green building products market;
Water efficient and energy-efficient fixtures will undergo double-digit growth;
Green floor coverings demand will grow at a rate of ~5.7%, but sales in this segment represent the largest share of the green building products market;
Recycled concrete demand will grow at a rate of ~8.4%, with sales in this segment representing the second largest share of the green building products market; and
Since 2003, the overall green building materials market grew from $39.2 to $57 billion, representing a 45% increase over five years;
I think we can all agree that the increasing availability of green building materials in all segments is a good thing. First, competition creates the opportunity for both low-cost providers and differentiators. Consumers will benefit from that. Second, the widespread availability of green materials gives everyone, whether they’re interested or not, the opportunity to purchase an incrementally better product.
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Solar power incentives!
July 7, 2009 by Taxcut Editor
Filed under Taxcut Blogs on Energy Savings
To encourage their citizens to go solar, a growing number of states offer solar power incentives, usually in the form of solar rebates. The amount of the solar rebate varies state to state, but in all cases it will cover a significant portion of your solar system installation cost. In most cases, IGNCT will help you get financing from one of our competing group of lenders. Find out how by calling IGNCT (877) 530-6505
In addition, the US government currently offers residential and commercial solar system owners a 30% federal tax credit after the first year.
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