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BANG FOR THE BITE
A great added bonus for going green. We gotta downgrade an apple, however, for some of the red tape and restrictions involved.
COCKTAIL FACT
The most misused social security # of all time was 078-05-1120, which came from a fake display card put in wallets sold at Woolworth’s in 1938.
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home › tip library › Hybrid and Solar Tax Credits
Had a chance to chat with Uncle Sam about your eco-purchases?
The Bite
Now is the time to take advantage of the new 2006 tax breaks for energy efficient vehicles and homes. Not sure where to start biting?The Benefits
- Hybrid Vehicles - as of January 1, 2006, new tax credit incentives are in effect. But hurry! The up to $2,600 credit is limited to 60,000 cars per carmaker.
- Solar Panels - homeowners in some states are eligible for a federal tax credit worth 30% of the cost of the photovoltaic (electricity producing) system or water heating system, up to $2000 each.
- Energy Efficient Retrofitting - taxpayers can receive up to a $500 federal credit over a 2 year period on energy efficient heating and cooling systems, insulation, windows, air infiltration, and duct sealing in existing homes.
- Energy Efficient New Homes - up to $2000 in federal credits are available to qualifying homebuilders who construct houses projected to save at least 50% of the heating and cooling energy of a comparable home.
- Fun incentives vary state to state. For example, Montana utility Booneville Power Administration has a program which offers $6 coupons redeemable for purchase of CFLs.
Personally Speaking
Jen can’t wait to use her compact fluorescent bulb coupons. She’s gonna be waiting a while, though - the bulbs are so energy-efficient, it could be years before she gets to use them since she bought CFLs for her house last year.Wanna Try?
- HybridCars.com Federal Incentives - search for breaks by car model.
- IRS Clean Fuel Vehicle Deduction Page – find out if your make and model gives you a deduction even if it’s not a hybrid.
- Database of State Incentives for Renewable Energy - find info on breaks for solar panels.
- The Tax Incentives Assistance Project (TIAP) - learn more about the programs available for home retrofitting and new construction.
- American Council for an Energy Efficient Economy (ACEEE) - database of available state programs.
May 19,2006
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All editorial suggestions in this tip are the result of testing and a preference for the tip topic. No advertiser has paid to have its company referenced in the tip. For more information, please read our Editorial Policy.
To Beetle or Not to Beetle
Biter Comments...
Biodiesel Beetle :)
Yo Heath - did you see that article on VW Jetta TDI getting better highway mileage than the Prius? Get one and we could be twins! I know how you love that when I wear my Biter shirt when you do. Lol.
Idaho here again...I love the thought of biking/car pooling everywhere, it's a super idea! I am Nervous Nelly driving a small car in the wilds of Idaho when I am versus this big-ass Suburbans and Hummers. It seems as though the Hummers are starting to out number the Suburbans in our town! How do I get my 6'2" (he's 14) son, ALL of his soccer gear, carpool his friends and me to games? We'd have to carpool the carpool. Plus we have NO public transportation here. Ok, cab company's but (using my fav word) - they're creepy....Sadly, I have to keep the car and try to be smart and ride share & bike it when I can. ALL thumbs up for you!!
PHOTO ALBUMS
Posted by: lara | May 19, 2006 at 07:21 AM