Talking About Green

You have a dilemma. Not only does your house need a good heating and cooling overhaul, but you have also decided you really want to become more environmentally friendly.

Your financial questions you ask yourself are:

1. How do I accomplish this major task on a limited budget?
2. How do I find the best products that will also last the longest time?
3. Should I consider emergency credit if the renovation needs are immediate?

Have you heard that not only can you convert your house to a higher “green” standard, you can also save money? You’ll save not just in heating and cooling bills, but in tax credits as well. That certainly sounds like a pretty good deal.

Some of the more obvious areas to consider, that can save you energy costs and at the same time qualify for a tax credit, are regular household cooling and heating concerns such as:

• Insulation
• Central Air
• Water Heaters
• Exterior Doors
• Windows

The first thing you’ll want to do is to look at what the specific areas are in your house that really need an immediate upgrade. Then look at which of these improvements also have the best tax credit programs that can help save even more money.

For instance, if redoing your home’s insulation seems like the best place to start your “green” renovations, then make a careful study of different types of insulation to see what brands will not only fit your needs, but are also the ones that are most environment friendly. Manufacturers, who produce qualifying products, will have proper certification showing that you have purchased a product that is recognized and approved by the IRS for a Green tax credit.

Of course, as with any major renovation plans, be sure that you refer to the proper codes and requirements. Not all insulation is created equal. For instance, if your insulation of choice is approved for standard building construction, then it is definitely going to fit the qualifications for the correct tax credits. If it is insulation siding- sorry, it will not pass the test.

These tax credits were introduced, by the government, in The American Recovery and Reinvestment Act of 2009. The tax credits were put in place specifically to encourage homeowners to become more aware in the conservation of energy and to also help reduce the costs in making these kinds of environmentally-friendly decisions.

One thing to realize is that, as of now, these tax credits are only good through Dec. 31st, 2010. This means that the work must be completed by that time. If a green home is on your “Must Do” list, then now is the time to take care of these issues.

Remember:

• You will save in heating and cooling bills.
• You can qualify for tax credits.
• Your house will have more value.

One last thing to realize is that tax credits are worth more than a tax deduction; so, make sure you study up, understand what you are doing, and Go for the Green!

This is a guest post by Annie

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