Ten New Tax Breaks for Homeowners
Congress’ inclusion of home energy incentives in the $787 billion stimulus plan it passed in February has a steady stream of customers heading to Manhattan’s Green Depot, a nationwide chain that carries environmentally friendly and sustainable housewares such as LED light bulbs and cork flooring. Most popular? Solar products, says Brian Tereza, the store’s general manager.
That could be because as part of the plan, buyers of solar water systems are eligible for a 30% tax credit for the initial purchase and installation cost. That’s good news; systems often run between $6,000 and $10,000. The credit is available through 2016, a sizable window to cash in on the benefits of lower-cost energy, and is available to those who use the solar system to heat their home’s water, not that of hot tubs or pools. Full story.
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