Tax Cuts for Going Green
Ready to take advantage of the federal government? You have until December 31. That’s when Washington puts cracks the hammer on consumer tax credits of up to $500 for energy-saving products such as high-efficiency furnaces, water heaters, windows and insulation.
If you are thinking about solar roof panels the good news is that credits of up to $2,000 will remain available for solar upgrades –including solar water heaters and photovoltaic roof panels –through December 31, 2008.
Even if you miss out, there are plenty of other tax breaks, rebates and discounts available to efficiency-minded homeowners through local governments, banks and utility companies. CNN writer Keith Pandolfi touched base on this topic last week in a this old house section installment online.
It is worth looking into if you have time to get some last minute up-grades in.