WORCESTER, MA (PRWEB) November 3, 2005
Need to replace your old furnace? Or, are you looking to cut down on heating costs by installing replacement windows? Good news –recent federal legislation makes it possible for taxpayers who choose energy efficient products to keep significantly more money in their wallet by way of tax incentives.
According to Sascha Deri, president of the Alternative Energy Store, “Essentially, the new legislation recognizes that renewable energy sources should be used more often, and they have decided to make it very attractive to consumers by way of tax incentives. By using alternative energy products, we as a nation will rely less on costly and foreign energy sources, and more on Mother Nature’s energy sources, which are not only cost-effective, but readily available and much better for the environment.”
Catering to customers around the globe via their online store (AltEnergyStore.com) and catalog, The Alternative Energy Store outlines the new renewable energy incentives in the “Energy Policy Act of 2005” signed into law by President Bush.
Homeowners may receive:
•Tax credits up to $200 for installing new exterior windows in their home.
•Tax credits up to $300 for installing an energy efficient central air conditioning system, heat pump or water heater.
•Tax credits up to $150 for installing energy efficient furnace or boiler.
•Tax credits for 10 percent of the cost of energy efficient doors, insulation and cool reflective roofs.
•A total tax credit of up to $500 for choosing to make energy efficient home improvements by upgrading thermostats, caulking leaks, etc.
•Tax credit of up to 30 percent of the cost, or up to $2,000, for installing solar-powered hot-water systems used exclusively for purposes other than heating swimming pools and hot tubs.
•Tax credit for installing solar electric and wind electric systems.
“By installing a solar hot water system, a homeowner can reduce their hot water heating costs by as much as 90 percent. Not only that, but a solar hot water system pays for itself several times over in energy savings during its useful life. That’s quite a return on investment,” noted Deri.
Contractors who build energy efficient homes can benefit from specific tax credits while owners of energy efficient commercial buildings will receive a special tax deduction. Details of these incentives may be found at the Department Of Energy website (http://www.energy.gov/engine/content.do).
According to Deri, “If builders installed just one solar air heating panel in new construction or renovation, a homeowner could conserve up to one-third of their heating fuel.”
But rewarding homeowners, contactors and commercial building owners who opt for energy efficiency is just the beginning. Legislators are also focusing on alternative fuel and energy efficient vehicles. For consumers who opt to buy hybrid electric or cleaner burning diesel engine vehicles, tax credits of up to $3,400 are available, while the credit is $4,000 for alternative fuel cars. Businesses can receive a tax credit of up to $12,000 for purchasing large hybrid vehicles, such as buses, and up to $32,000 for alternative fuel vehicles.
Have we mentioned manufacturers? Manufacturers of energy efficient appliances will also be able to take advantage of a few new tax credits:
•$75 to $175 per refrigerator (depending on efficiency)
•$100 for washing machines that meet Energy Star criteria
•$100 for dishwashers (depending upon Energy Star criteria)
These tax credits for manufacturers may even mean lower retail prices down the road.
“The volatility of the energy market, with instability in fuel oil and natural gas prices along with the high cost of electricity, is just cause to take steps that will help relieve some of the financial burden. The new tax credits make alternative energy sources and energy efficient products very appealing to many taxpayers,” Deri stated.
To learn more about renewable energy or alternative energy products, visit the Alternative Energy Store’s website at http://www.altenergystore.com or contact Toll Free (800) 320-9514.
Making Renewable Energy Affordable
Founded in 1999, the Alternative Energy Store, LLC has catered to customers on every continent of the globe. With a mission to make renewable energy affordable, the Alternative Energy Store has established long-standing relationships with manufacturers to pass along the cost savings to customers. These relationships coupled with the expertise of the purchasing department and exceptional promotions enable the Alternative Energy Store to offer the best prices over competitors.
Committed to benefiting societies and the environment, the Alternative Energy Store is dedicated to educating consumers and providing the best selection of solar, wind, micro-hydro and other alternative energy products worldwide.
Alternative Energy Store is located at 65 Water Street in Worcester, Mass. For more information visit their website at http://www.AltEnergyStore.com or contact Toll Free (800) 320-9592.
Contact: Steven Dubin, PR Works, (781) 582-1061
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