At a time when we are trying to save money and anxious about the environment and increasing reliance upon imported gas and oil, the American government has at last stepped up to the plate and hit a home run for Americans, the globe, the environment and the climate.
It is a new law, one that only a relative handful of people have heard about.
Here it is.
Consumers who install solar energy systems (including solar water heating and solar electric systems), small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems can receive a 30% tax credit for systems placed in service before December 31, 2016.
You read this correctly. The government, our government, has finally taken the first step to preserve the environment while saving us money.
A tax credit is different than a tax deduction. The tax credit actually reduces your taxes dollar for dollar. It is like getting a reward from Uncle Sam.
What do you pay every month for power? $250? $350? More?
Ecstatic about the prospect of shelling out lots and lots of cash each and every month for all your days? Not so much?
Then, give serious thought to this incredible opportunity.
Think about it this way.
First, think about the initial overall costs. You will make a one time investment of 70 cents on the dollar; the federal government will kick in the rest. Your residence value will grow significantly, some at the government's expense. Your expenditure will be regained in a very short time.
Second, consider your future financial savings. Each month, instead of writing a check to your electric company, write it to you. This month, next month, every month all year, year after year. Use it for a vehicle, or vacation, your children's school, or put aside for a secure retirement.
Do the arithmetic yourself. You are going to discover that you can't go wrong.
Third, price out the one time cost and weigh it against the future savings.
With today's technological know-how, a lot of DIYers can build their own solar electric systems by themselves. This is not rocket science as more and more folks are demonstrating all the time.
There are great, affordable do it yourself publications, and almost everything you will need is probably at Home Depot, Lowe's, and other large home improvement stores. Of course, should something not be carried locally, the internet makes getting it a snap.
But, even if you are not all that gifted with your hands, there are lots of people who are----and in this economy willing to work for an affordable price.
Finally, for more information check out the Department of Energy website: http://www.energy.gov/taxbreaks.htm.
Blogger writes about saving money and the planet with wind and solar power on his reader friendly blog, Solar Power Cost Saver Blog.
Read More From solarpowercost
|
