If you would like to save the world –and a few bucks while you’re at it–but don’t have the money to invest, you ought to look into federal and state grants for green homes. These grants are part of this government’s economic stimulus strategy, and are designed to reduce America’s carbon footprint and promote green technologies by providing money, rebates and tax breaks to invest on home energy-saving jobs.
Should you buy energy-efficient products or renewable energy systems for your home, you can claim federal tax credits to help pay for them. For example, through 2016, homeowners who invest in geothermal heat pumps, solar power and wind power systems may maintain 30 percent of the price of these home improvements on IRS Form 5695.
You can receive rebates when you buy appliances. The American Retrieval and Reinvestment Act of 2009 funds this program. The objective is to stimulate the market by encouraging consumers to buy new appliances that are energy-efficient. The terms of this program vary by state. For instance, in California, residents may trade in rebates for refrigerators, clothes washers, gas boilers, central air-conditioners, gas storage water heaters, freezers, dishwashers and room air-conditioners. To be eligible, customers must demonstrate their older appliances were recycled by them and bought the newest ones.
Construction Permit Fee Waivers
Some regional governments waive building permit fees for projects that improve the energy efficiency of a home. For instance, in Santa Monica, Calif., local authorities gives a green building incentive that waives the building permit for contractors and homeowners who install a solar power system in their property.
Local Rebate Programs
Local governments also provide rebate applications for money spent on green technology. For instance, the town and county of San Francisco and its Public Utilities Commission provide rebates for residents who install photovoltaic systems–a type of solar energy technology–in their possessions. Certain guidelines apply; for example, systems must have a minimal 1-kilowatt capacity to qualify.