You can get significant savings by investing in a sound home energy retrofit plan. You will, most likely, be amazed at what smart investments can save you every month.
You can also get tax credits and tax rebates from state and local governments and even electrical utilities.
There are several things you need to understand about tax breaks.
I will send you to the ultimate website for seeing what is available in just a moment but a couple quick points first.
I suggest that you figure out what your home needs and make decisions on investing for what makes the most significant energy savings contribution to you. Do not make buying decisions on how much you can save in taxes.
Lots of companies sell products that fit under defined tax breaks and they use deadlines to push you to take advantage. . Now bloggers and writers need something to write about. And deadlines are something to get your attention.
But they should not be a deal maker or a deal breaker for you. In fact they are financially insignificant to you over the long term. The energy investment needs to make a great deal for you even without the tax savings.
Of course, when ready to invest in energy savings, investigate fully how to best leverage any tax credits, rebates, whatever- that are available.
And pay attention when new tax breaks are introduced. Texas had a great rebate on new appliances a year or so ago. New appliances just might make a significant contribution to your savings. And it is always nice to save even more money.
Tax breaks- when they are broken down, are not a significant savings for you- they are great but should not make your decision whether you get one or whether you were too late to take advantage- make any decisions based on the numbers for your home.
Make sure you talk to your accountant or financial advisor, or at least look at a thoughtful framing of your energy investment for taxes. Being smart can save you taxes.
So certainly take advantage of tax credits where you can but do not get caught up in that bubble. Do the smart thing. That which saves you the most money over the long term.
Feel free to disagree. Leave a comment below.