Energy Saving Tips, tax tips as well

GREEN REVIVAL
There has been a lot of talk about the Emergency Economic
Stabilization Act of 2008, which was signed into
law in October. But do you know what it means for
you? If you use energy-efficient products in your home, you’ll
want to take note: Starting Jan. 1, 2009, the law expands and
extends valuable federal tax credits for homeowners who
make certain upgrades. These credits are largely the same, but
not identical, to those that expired at the end of 2007.
Benefits include lower home energy bills,
increased indoor comfort and reduced air pollution.
In addition, the energy-efficient products eligible
for the new federal tax credits actually lower the
amount of federal income taxes that taxpayers
must pay Uncle Sam. Here’s a look at how
much you could save if you took advantage of
some of these tax credits (but remember that
your energy savings each year may be
greater than the one-time tax savings):
YOURHOME2009
JANUARY
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WARM Welcome
In many parts of the country, temperatures
are dropping — and heating
bills are rising. But there are things
you can do to keep warm and lower
your heating costs. Consider these tips
from the U.S. Department of Energy:
Take advantage of heat from the
sun. During the day, open curtains on
windows with southern exposure to allow
sunlight to naturally heat your home.
Cover drafty windows. Use a heavy-duty, clear plastic
sheet on a frame or tape clear plastic film to the inside of
your window frames. Make sure the plastic is sealed tightly.
Adjust the temperature. When you’re home and awake,
set your thermostat as low as is comfortable; when you’re
asleep or out of the house, turn your thermostat back 10 to
15 degrees for eight hours.
Find and seal leaks. Seal air leaks around utility cutthroughs
for pipes, gaps around chimneys and recessed
lights in insulated ceilings, and unfinished spaces behind
cupboards and closets.
Reduce heat loss from the fireplace. Keep your fireplace
damper closed unless a fire is burning. When you use the
fireplace, open dampers in the bottom of the firebox or the
nearest window slightly (approximately 1 inch) and close
doors leading into the room.
Lower water heating costs. Water heating can account for
14 percent to 25 percent of the energy consumed in your
home. Turn down the temperature of your water heater to
the warm setting (120°F).
Source: www.energysavers.gov
Wyoming leads the nation in coal production. The state typically
produces more coal than the combined output of West Virginia,
Kentucky, Pennsylvania and Montana.
Source: Energy Information Administration
Purchase Tax Savings Notes
Central air
conditioner or
heat pump
$300*
Only some
Energy Star
products qualify.
Furnace or boiler $150*
Only some Energy
Star products
qualify.
Windows Up to $200*
All Energy Star
windows qualify.
Insulation and
sealing
Up to $500*
Must meet model
building code
as installed.
Ground-source
heat pump
Up to $2,000
Only Energy Star
products qualify.
* Maximum of $500 total for home improvements.
In some areas of the country, consumers also will be
eligible for utility or state rebates or state tax incentives
for the same homes, vehicles and equipment