Save Money with these Tax Credits
Did you know that there are only two tax credits still available under the American Recovery and Reinvestment Act of 2009? This act extended incentives originally introduced in the Energy Policy Act of 2005.
- The Residential Renewable Energy Tax Credits for consumers installing solar energy systems, small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems is available until December 31, 2016 and can provide a 30% tax break.
- Tax credits are also available for plug-in electric drive conversion kits. According to the IRS website, the tax credit is equal to 10% of the cost of converting a vehicle to a qualified plug-in electric drive motor vehicle after February 17, 2009. The maximum credit is $4,000. Conversions must be completed prior to December 31, 2011.
These residential rebates are available through JEA:
- Green Built Homes of Florida is an incentive based program being offered through JEA and the Northeast Florida Builders Assocation to promote the use of energy and water efficient building practices in new single family homes constructed in Northeast Florida. Maximum incentive is $1,500 per home.
- JEA is offering rebates for home energy efficiency improvements through the ShopSmart with JEA program. New equipment purchases must fall after December 1, 2009 and before September 31, 2011. Rebate requests must be postmarked by October 31, 2011.
Beaches Energy is offering these incentives:
- Rebates to residential customers to install qualifying energy-efficient equipment, insulation upgrades, and duct leak repairs in existing homes (but not in new construction). Rebates range from $25-$300 under this program.
- A solar water heating rebate of $500 for residential customers. This only applies to new systems which are properly installed and certified.
And, finally, this incentive is available for Florida residents:
- Solar energy systems have been exempt from Florida's sales and use tax since July 1, 1997. Vendors of solar energy systems or components are required to document exempt sales. This exemption is now permanent. Equipment must be on the list to qualify.
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