Don't expect another "Snowmageddon" this winter but be prepared to spend about the same on your energy bills.
East Cost residents shouldn’t expect another “Snowmageddon,” but the Department of Energy is predicting most people will pay roughly the same amount for heat this winter as they did last year. So act now and try to save money this winter with some year end tax credits.
According to the IRS, there are two tax credits for winterizing your home that will expire at the end of the year.
If you add items like high-efficiency heaters, water heaters and stoves to your home, you can qualify for a 30 percent tax credit – up to $1,500. But be aware, this credit is for 2009 and 2010 combined. So if you used it up last year, you won’t be eligible.
Homeowners can also take a 30 percent tax credit by installing a solar electric system, hot water heater, geothermal pump, wind turbine or fuel-cell system. There’s no cap on that credit, so it could be a good time to make a long-term investment in saving energy.
For more information, check out this article.
Also, be sure to check out some of our other energy saving posts to help you save money this winter.
- Looking for Home Energy Efficiency Improvement Tax Credits
- Winterizing Tips That Work Wonders
- Winter Energy Saving Tips
- Energy Efficient Projects You Can Do In Under An Hour
Adding insulating items like special window film or cellular shades are also supposed to be eligible for this government tax credit expiring dec 31.