Posts Tagged ‘tax credit extended’

LA Times: Energy-efficiency tax credits gutted

December 26, 2010

The LA Times reports what we touched on several days ago.   The extended federal tax credit is much lower in 2011 than is was in 2010.   This is certainly a big step backward in terms of a good national energy policy (a phrase you almost can’t use “national energy NONpolicy” might be better.  But in many states–including California–the outlook isn’t bleak.   In CA, for example, Energy Upgrade CA, is just about ready to kick off in earnest (we’ve already be delivering improvements under the pilot phase.   And as I mentioned last time, many generous state, local, and/or utility incentives still exist or are just coming on line.  Give us a call or visit our website to see how we can help.

And be proactive about it.  While the jobless numbers are still way too high, the U.S. economy has begun its climb–expected to be a long, slow climb, out of the dumps.  And with it, energy prices are climbing.  As reported in the WSJ, pre-Christmans trading saw oil futures climbing above $91/barrel again, up more than 13% since November.  “Several major banks expect prices to reach triple digits next year as demand rebounds with the improving global economy.”    And retail gasoline price are climbing, reflecting a broader impact to consumers.

Dollars invested in energy-efficiency start saving now, and provide even greater protection as energy prices increase.  So while the gutting of the tax credit isn’t a good thing, it’s still the right time to save.  Take the steps now.

Thanks,
Mike

Home Energy Upgrade Tax Credits Chopped in 2011.

December 21, 2010

[Editor’s update, Jan. 4, 2011:  A comprehensive summary of the 2011 energy tax credit with a table listing specifications and dollar amounts for various improvements is now available.]

Included in the tax legislation that Congress recently passed and the President signed is a one-year extension of the federal tax credit for energy improvements to homes.  Unfortunately, it’s significantly less attractive than the 2010 tax credit.  In 2011, there will be an overall cap of $500, with smaller caps for particular items.  For example, qualifying furnaces would only garner a $150 credit.   The WSJ’s Market Watch gives a nice high level view.  The 2011 credit is in sharp contrast to the $1,500 credit you could have received in 2010.  There’s really only one week left to try to take advantage of the much better credit.  If you think you’ll need a new furnace (for example) over the next couple of years, it may be worth accelerating the change–if you can still squeeze it in.

We’ll post a comprehensive view of the details for 2011 on our website in coming weeks, much like information on the current credit available in 2010.

There are still very generous state, local, and/or utility incentives for many of the customers we serve.  Give us a call or visit our website to see how we can help.

Thanks,
Mike


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