If you took the initiative last year and performed energy-efficiency projects at your house, or even went the extra mile to put in solar panels or solar hot water heaters, you are by now reaping the rewards of lower energy bills and more money in your pocket each month.

If you did these projects, you may not know that these projects can save you even more money when you prepare your 2009 tax return this spring.  President Obama and the Government have enacted several new credits this year that will result in bigger refunds.

The American Reinvestment and Recovery Act of 2009 (ARRA, better known as the Economic Stimulus), contains new or expanded tax credits for energy efficiency and renewable projects.

The Stimulus Bill contains provisions that provide for a uniform credit of 30 percent of the cost of qualifying energy efficiency projects, such as beefing up your insulation, or installing energy efficient windows or energy-efficient air conditioning or heating systems.

ARRA also increased the limit that can be claimed to $1500, up from $500 in the previous law, enacted in 2007.  The law did increase the standards for what products qualify for the new credits, so make sure that the products you installed qualify under the new rules.

In addition to the credits for energy efficient projects, the law also increased the allowances for alternative energy installations, such as solar panels, solar hot water heaters, small wind turbines, and geothermal heat pumps.  You are now allowed to credit 30% of the cost of these renewable systems, with no cap.

Tax Credits for Business Owners

If you are a business owner, you may not know that the tax credits for renewable energy projects do not only apply to individuals; credits can also be claimed by businesses.

Previously, the Government had allowed tax credits of 30% on the investment in renewable energy projects.  ARRA now gives businesses three choices to claim incentives: the 30% energy investment tax credit, a production tax credit of up to 2.1 cents per kilowatt-hour (kWh), or a 30% cash grant.  The grant can only be claimed on facilities that start construction by December 31, 2010, and these facilities must be in operation before 2014 or 2013 for wind projects.

So, if you have taken the time and spent the money to install energy-efficiency or renewable projects, make sure you get your full tax credit and get the biggest tax refund possible

In these tough economic times, everyone is looking for ways to save money. Households across the country and around the world are cutting back on the non-essential things in their life. And at the same time, there is a growing push to go “green” and to save the planet. Fears of global warming, high and unstable oil prices and supply, and even political unrest are all driving the United States and the rest of the world to alternative sources of energy. Unfortunately, the traditional view is that alternative energy costs more than fossil fuels, and it is very hard to pay extra when money is tight.
So, what if I told you that you could help save the planet and your wallet at the same time? It doesn’t seem like it makes sense, but it is possible. A combination of new and less-expensive solar products, along with state and federal rebates and tax credits, can make clean solar products cost-effective.

Solar Panels for Your Home

Solar panels, also known as photovoltaic panels or PV panels, are what most people think of when they hear the word ‘solar energy’. These panels connect directly into the electrical system of your house and supply energy when the sun is out, which lowers the amount of energy you buy from the electric company, which lowers your bills. And they are totally clean, which is great for the planet as well. The current market has caused solar panel prices to drop dramatically, and tax credits from the federal government and states, and rebates from utility companies means that you can put PV panels on your home for less than ever before. These projects are now paying for themselves in about 10 years, and after that you get free power for 15-20 more years! And if you produce more electricity than you need, some utility companies will even buy the extra power from you. Check with your local utility for details about their solar program.

Solar Hot Water Heater

Did you know that the energy it takes to run an old, inefficient water heater for a year can create as much pollution as two cars? A new solar hot water heater solves two problems: you save money on your monthly electric or gas bill because you no longer have to pay for the energy to heat your water (because it comes from the sun), and it also reduces pollution. That is a win-win situation. And the new tax credits for installing solar hot water heaters mean that the project can pay for itself in just a few years.
There is no better time than right now to take advantage of falling prices, tax credits, and rebates to install green, clean, efficient and cost effective solar projects in your home. Putting a solar hot water heater and solar panels in you house will save money on utility bills in the long run, and will also reduce pollution, which will help you do your part to save the planet. Go Solar

Landscape lighting is fun and exciting to shop for, especially if you steer away from the limited selections in brick and mortar businesses in your local area. Shopping online delivers an almost endless display of options, ranging from more elaborate, technology enhanced fixtures to high quality solar garden lights. For most people, going solar delivers huge savings that are difficult to pass up.

Solar power is the art of using the natural light of the sun to power things here in our world. Many people are now placing solar panels on the roof of their home in order to power their homes, but solar garden lighting is a much simpler way of using this technology.

The biggest savings that come with solar power have nothing to do with money. It is the time you save by not having to go through long, elaborate installation processes. Outdoor lighting that must be wired through the ground into your home is a big mess to install. You have to pay someone in most cases to make sure that all of the wiring is done safely and any holes in the ground are correctly filled back in.

You also save time over light bulb units that must be watched so the bulbs can be changed in a timely manner. With electric and light bulb power, you also have ongoing expense of purchasing the bulbs or paying extra on your power bill. For those who don’t have the solar panels on their roofs, it is difficult to afford a lot of this type of lighting on the property at home.