Taiga Company

Today is tax day and while most may be focused on completing 2008 taxes, it is never too early to start planning for the future.

Most people are aware that energy-efficiency improvements can help you save on electric bills.  However, did you know that for 2009 and 2010, energy-efficiency can also help you save on your federal income tax return?

Homeowners can now qualify for up to $1,500 in energy-efficiency tax credits under the economic stimulus package signed into law in February. The credit is for up to 30% of the cost for certain improvements. As a personal consultant, I am advising clients to factor this incentive into their personal sustainability plans for energy-efficiency. 

Some of the qualifying improvements include:

•    Exterior windows, skylights, and exterior doors
•    Storm windows and storm doors
•    Roofing
•    Insulation
•    Central air-conditioning
•    Air source heat pump
•    Natural gas or propane furnaces
•    Oil furnaces Gas, oil, and propane water heaters

In addition, certain alternative-energy improvements qualify for an even more generous credit: 30% of the cost, without the $1,500 limit, and available through 2016.  Individuals looking to make significant changes towards a more sustainable lifestyle may want to install:

•    Geothermal heat pumps
•    Solar panels
•    Solar water heaters
•    Fuel cells
•    Small wind energy systems

At Taiga Company, we support any change that makes a contribution toward a more sustainable lifestyle.