Going green saves on taxes

admin — Wed, 04 Aug 2010 18:53:20 +0000

It’s never too late to learn about the many ways living green can save on your taxes. Well, technically it is for your 2009 tax return, but these credits listed on Pays to Live Green should give you a heads-up for next year. Either way, when living green often means paying more for still-alternative energies, it’s refreshing to know that the government is giving money back to the people. If you’re one of those who took advantage of these on this year’s tax return, bravo, and thanks for helping keep the environment safe for the rest of us.The government offered an outstanding tax credit to those who upgraded their heating and air conditioning system to an Energy Star-rated system. The credit was equal to 30 of the system’s price (with a 1,500 cap). Upgrading your system will also save money in the long run when you see your monthly energy bills go down. Energy Star air conditioners are generally 14 more efficient than normal, while ES heating pumps are anywhere from 8-20 more efficient than what you may already have.If you installed a geothermal heating system last year, you were eligible for a 30 tax credit with no cap. Because it is typically reliant on tectonic plate boundaries (except in the case of enhanced geothermal systems), these sorts of systems can’t be installed everywhere. Also, installation can sometimes involve expensive replacement of your home’s existing duct work. However, this credit goes a long way toward making geothermal heating an attractive offer. The same 30 tax credit is available for those who install wind or solar-powered systemsagain with no cap. This credit will be available through 2016, but remember that for a solar-powered system to be eligible, it must generate more than 50 of the house’s heat.Buying new insulation for doors, windows, or roofing in 2009 made you eligible for another 30 tax credit up to 1,500, as long as the insulation is Energy Star-rated or meets other energy requirements. Finally, hybrid, battery electric, and alternate fuel vehicle buyers were eligible for anywhere from 250-7,500 worth of tax credits. Many of these will be available again next year, so check with a tax consultant to see how going green can help save yougreen.

Harness the Power of the Earth

www.projectlivegreen.com — Thu, 08 Jul 2010 15:34:52 +0000

Due to the massive global consumption of valuable fossil fuels for energy, scientists and energy specialists all over the world have been striving to come up with an alternate source of clean usable energy. While no one has found a perfect replacement for fossil fuel consumption, there are many clean energy sources available for everyday use.For example, wind can be converted into useful energy through the use of wind turbines for electricity, wind mills for mechanical power, wind pumps for water draining, and sails for ship transportation. The main problem with using wind as an energy source is people’s “NIMBY” mentality. NIMBY, or ‘Not in my Backyard’, refers to people refusing to allow the construction of wind farms because they are not aesthetically pleasing. There are also geographic limitations on wind energy’s powersit can only be effective in windy areas.Another energy alternative that is growing in popularity is biomass. Bioenergy uses organic matter such as crops, trees, wastes and residues, animal wastes, municipal wastes, and other renewable resources to create make biofuels and convert previously worthless matter into energy. Currently, the US uses bioenergy for 3 of its primary energy consumption. The only renewable energy source with more availability in the US is hydropower. According to the US Department of Energy, the hydro electric facilities in the US can create enough power to supply 28 million households with electricitythat’s nearly 500 MILLION barrels of oil.Though technology continues to advance and energy breakthroughs continue to be made on a small scale, the world is still desperately in need of a more reliable energy source. Since the devastating oil spill in the Gulf Coast, the need for alternate clean energy is even more pressing than ever.

ProjectLiveGreen » Alternate Energy

Going green saves on taxes

Harness the Power of the Earth