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Texas Electricity Explains Energy Tax Credit
Green Technology Featured Articles
October 14, 2009

Texas Electricity Explains Energy Tax Credit

By Nathesh
TMCnet Contributor

Bounce Energy, a Texas Electricity Company, has released a new report titled, “The Energy Tax Credit: Is it Worth It?” to analyze and explain the Energy tax credit system.
 
According to company officials, the report will help consumers who are considering whether or not to take advantage of the 2009-2010 Energy Efficiency Federal Income Tax Credit.
 
The energy tax credits for energy efficient home improvements were announced with the intention to make individuals energy conscious and encourage them to buy energy efficient products. The new law provides tax credits for those making their principal residence, which must be in the United States, more energy efficient.

 
A recent report from the US Government’s Energy Star program found out that a typical American household spends up to $1,300 per year on home energy bills and that homeowners can save up to 20 percent of heating and cooling costs if they air sealed their houses through caulking and sealing drafts.
 
According to the Bounce Energy report, a single-story 3-bedroom 1750 sq. foot home built in 2008 on the Gulf Coast was installed with Energy Star-rated hardware upgrades such as new triple-pane insulating low-E, argon gas wood-framed windows, a whole-house on-demand water heater, and an additional 6 inches of attic insulation and the result was savings of up to 56 percent in energy costs and with the addition of the energy tax credit - the house received $2000 on a $4750 investment.
 
The 2009 and 2010 Energy Efficiency Tax Credit for home improvements is a tax credit of 30 percent or $1,500 for energy efficient improvements that consumers make to their existing home. An energy efficient home not only receives tax credits, it also enhances the market value of a home.
 
The Bounce Energy report concludes that the energy tax credits are of real worth, both to the taxpayer and the ecosystem because energy efficiency improvements will save energy and money and make homes more comfortable - and when users become energy efficient, they will also be energy self-sufficient.
 
 
 
 

Nathesh is a contributing editor for TMCnet. To read more of Nathesh's articles, please visit his columnist page.

Edited by Stefania Viscusi


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