Energy Star Tax Credit
Myth and Reality
Energy Star Facts
Contrary to the myth, there is no Energy Star Tax Credit on buying Energy Star Appliances. Energy Star is a government supported program that promotes better use of energy nationwide. The US Environmental Protection Agency and the US Department of Energy joined forces to promote more efficient ways to use energy. Two goals are served, the first is to reduce pollution and carbon-dioxide footprint the second is to reduce the dependency on imported oil and other imported energy resources.
The Energy Star is mostly visible to the consumer. Electric appliances are clearly labeled with Energy Star Labels that show the necessary energy efficiency information
Energy tax rebate are covered in my pages on IRS and states energy tax credit and 1500 energy tax rebate.
Energy Star Appliances tax deduction
The benefit from buying new Energy Star Appliances such as refrigerators, room air conditioners, washing machines, drying machines, dish washers, attic and ceiling fans and efficient lighting (CFL bulbs and LED bulbs) is the life cycle saving on electricity bills. Unfortunately, there is no tax deduction available on purchasing these home appliances
The bright side
Tax credits are granted on solar water heating, solar power generation, small wind turbines and geothermal energy (30% of the investment, no upper limit)
Tax credits on home improvement (insulation, doors, windows, HVAC, roofing) are granted with an upper limit of $1500 on 30% of the investment. This is a window of opportunity that ends on December 31st 2010, don't miss it
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