Tax Benefits of Eco-Friendly Construction
The topic of global warming is hot right now, and eco-friendly everything is en vogue. Clean energy is a hot topic in current political debates and there’s even a new cultural phrase emerging - “E.C.” (environmentally correct).
Helping the earth is a worthy goal, but what if you could help yourself in the process? Obviously, we’ve discussed how eco-friendly building can reduce utilities costs. However, you may not know about the multitude of related tax benefits.
Tax Credits are available at the federal level for home improvements including: the installation of energy efficient windows; doors; roofing; insulation; HVAC; solar panels and fuel cells. More specifically, tax credits can tally up to $500 for general eco-friendly home improvements, but up to 30 percent of the cost of solar energy systems (up to a $2,000 limit) and up to 30 percent of the cost of fuel cell installation (up to a $1,000 limit).
Click here for info on which states offer incentives for energy efficiency, and also check out the Green Daily Tax Guide. There, you will find much more detailed information on eco-friendly tax benefits.
