A recent national poll was released, showing that incentives will be needed to persuade Americans to make energy-efficient improvements to their homes.
Back in 2011, tax incentives that once rewarded Americans for energy-efficient improvements were slashed. For many Americans, the survey found those incentives were a prime reason for making such improvements as replacing windows, adding insulation and buying energy-efficient appliances.
Although now in 2019 our USDOE states:
Federal Income Tax Credits and Other Incentives for Energy Efficiency
The tax credits for residential renewable energy products are still available through December 31, 2021. Renewable energy tax credits for fuel cells, small wind turbines, and geothermal heat pumps. All now feature a gradual step down in the credit value. That’s the same as those for solar energy systems.
So the tax credits for residential energy efficiency have expired. USDOE taunts you can still save money and energy in your home by using ENERGY STAR certified products. Products that have earned the ENERGY STAR are independently certified to save energy, save money and protect the environment.
They use up to 30% less energy in your home by outfitting with ENERGY STAR certified products available across more than 70 categories.
*Disclaimer: The tax credit information contained within this website is provided for informational purposes only and is not intended to substitute for expert advice from a professional tax/financial planner or the Internal Revenue Service (IRS).
- About almost one quarter (23%) of Americans who made energy-efficient improvements said they’d received a rebate or financial incentive.
Of those most said they’d received either a utility rebate (41%) or a federal tax incentive (39%).
3. A full 25% of respondents said they wouldn’t have acted without the incentive, and
another 7% said the incentive encouraged them to pay slightly more for a higher-efficiency model.
This is a joke!!
The new tax law chops incentives from 30 percent to 10 percent of costs for many improvements. So it’s reducing the maximum cumulative credit from $1,500 to $500. In addition, there are now lower caps such as $200 for energy efficient windows. Compare that to previous credits of $1,500.
SMART Meter Support
There is significant interest in time-of-use billing plans, smart meters and online energy information management systems. Over half of respondents, if given access to more information about their energy use, said they would utilize it regularly to try to shift or reduce their consumption. This is including 61% of people who show interest in receiving a smart meter that would notify the utility of a power outage.
When it comes to meeting customer needs, many utilities fear the vocal minority, Shelton said. “They’re concerned about resistance to smart meters and slow to roll out time-of-use billing. As a result, utilities are missing out on a huge opportunity to help people take control of their energy use by giving them the information they need and the choices they want.
· Asked what specifically they’ve done to save energy, the largest percentages of Americans had replaced most incandescent bulbs with CFL’s (63% of homeowners and 61% of renters), added sealing/caulking/weather-stripping (55% of homeowners and 29% of renters), purchased ENERGY STAR appliances (49% homeowners; 38% renters) or added insulation (36% owners; 27% renters).
Source: ENERGY STAR and Natural Resources Defense Council