Federal Tax Credit for Solar Energy TurboTax Tax Tip Tutorial
Hello, I'm Jeremy from TurboTax with important news on how you can reduce your tax bill and protect the environment at the same time. Have you installed solar powered equipment in your home this year Or are you considering it If so, the federal government will reward your environmentally conscious home improvements with a tax credit equal to 30 percent of your purchase and installation costs. There is no maximum on the amount of credit you can claim. Essentially, the credit works like this. If you spend 10000 dollars to buy and install solar panels on your roof,.
Your credit will equal 3000 dollars. If at the end of the year, you owe 5000 dollars in taxes, the credit reduces your tax liability to 2000 dollars. If you haven't purchased the solar powered equipment yet, don't worry. You have until 2016 to do so. There is, however, one notable limitation to the credit. It is only available for improvements that you make to your main home which is generally your principle residence where you live for most of the year. You can also increase your tax savings by claiming similar credits for energy efficiency improvements.
Solar Energy Panels an Alternative Energy Source Save Money with Solar Energy Rebates
Imagine harnessing the power of the sun to reduce your utility bills. Despite the large initial investment, solar energy panels are a green renewable energy source that can add value to you home and reduce your energy costs paying for themselves over time. This is your Union Plus Green Minute and I'm here to tell you how to go green and save green at the same time. By installing solar energy panels to generate your own electricity, you can save between 400 and 700 dollars a year. You can also install a solar powered.
Water heater and save hundreds more. On sunny days when no one is home, you might generate more electricity than you use. Your meter will run backward and your utility will actually owe you money. Solar energy panels for your home are not as expensive as they seem because you'll get a 30 percent federal tax credit. Most people recoup their investment in eight to twelve years, though that depends on where you live, how much sun you get, what your utility rates are, and other factors. And that's not all. If you use your Union Plus credit card to pay for energy efficient.
New year not bright for solar energy users
Some may have new years resolutions to slim down or eat more greens. But homeowners who want to trim their electric bills by going green are starting off the new year with some uncertainty. KITV 4's Paul Drewes explains. The new year may not all that bright for solar energy in Hawaii. Installations for 2014 were down by 50 from the year before. Then there is the proposed sale of Hawaiian Electric to Nextera. 554 there is a lot of concern, and questions because this utility has been opposed to allowing.
People to put in their own solar and had made it more expensive Nextera's president has publicly stated the company is not in favor of rebates for residential solar, but tax credits are a big draw for homeowners because of the big savings. graphic Currently there is a 30 federal tax credit. There is also a $5,000 tax credit for each 5kW system from the state. Local lawmakers say right now, that credit is staying put. mike 1222 the solar tax credit is still in place, I don't plan on introducing.
Anything that would affect that solar tax credit The federal tax credit could come to an end after 2016. While there had been talk of limiting the local tax credit Gabbard said that wouldn't happen for years. 1913 i've continued to be in contact with the solar industry and all the other stakeholders and people seem to be satisfied with where it is right now. Right now, Nearly 5,000 homeowners are still waiting to connect their solar setup to the energy grid. 2015 could have some bright spots. A mainland study, paid for.
By HECO and solar installers, is looking at how residential solar can continue to expand in Hawaii those results are due at the end of the month 216 we want to ensure people can continue to install solar because it is the only way people can save on their electric bills Lee also plans to introduce legislation this session that will allow condo and apartment users to buy into community solar projects even though the panels would be installed on someone else's roof. 302 we've seen 100s of people who.
Gas prices dip below $2 in places
MIKE CRONIN IS LIVE IN MANCHESTER WITH MORE. GAS PRICES HERE AT THIS STATION IN MANCHESTER AND MANY OTHERS ACROSS THE STATE UNDER TWO BUCKS AT THIS POINT. PRETTY NICE FOR DRIVERS THIS WINTER. WE DID SPEAK WITH A LOCAL PROFESSOR TODAY ABOUT THE GAS PRICES AND HE SAYS PART OF THE REASON WHY THEY ARE SO LOW THIS YEAR IS BECAUSE DRIVERS AND EVEN SOME POLICY MAKERS HAVE BECOME MORE ENERGY CONSCIOUS. PRICES ARE DOWN, AND SPIRITS ARE UP AT GAS STATIONS ACROSS NEW HAMPSHIRE. IT'S GREAT. JUST MAKES ME WANT TO TRAVEL.
PRETTY GOOD. I'M AT THE PUMPS ALL THE TIME, SO IT'S GOOD TO SEE THEM DOWN A LITTLE BIT. ACCORDING TO TRIPLE A THE CURRENT AVERAGE OF REGULAR GAS IS $2.08. BUT DRIVERS HAVE BEEN PAYING LESS THAN TWO BUCKS AT MANY GAS STATIONS. FOR A WHILE IT WAS COSTING ME MORE TO FILL MY TANK OF GAS THAN I BOUGHT MY FIRST CAR FOR. TRIPLE A SAYS GAS IS ABOUT A DOLLAR AND A HALF CHEAPER THAN THIS TIME LAST YEAR. I DON'T EXPECT IT TO GO MUCH LOWER, MAYBE ONLY A FEW CENTS AT.
MOST. SOUTHERN NEW HAMPSHIRE UNIVERSITY INTERNATIONAL BUSINESS PROFESSOR SAYS OIL SUPPLY HAS INCREASED AND DEMAND HAS DECREASED. HE SAYS THE PRICE OF A BARREL OF OIL HAS DROPPED FROM ABOUT $100 TO LESS THAN 50. SOME OF IT, OUR POLICIES OF PUSHING FOR ALTERNATIVE ENERGY AND PROVIDING TAX BENEFITS FOR SOLAR AND OTHER ENERGY. SAMMY DIDN'T EXPECT PRICES TO DROP THIS LOW, BUT THE DROP MEANS MORE CASH IN PEOPLE'S WALLETS. SAVING MONEY TOWARDS GAS SO WE CAN PUT MORE TOWARDS GROCERIES AND TRAVEL AND ALL THE KIDS' ACTIVITIES AND THINGS LIKE.
THAT. HE SAYS PRICES COULD CHANGE BY A FEW CENTS THIS WINTER, BUT BY SPRINGTIME IT MAY BE A DIFFERENT SITUATION. MAYBE WE'LL SEE A LITTLE BIT OF A PRICE INCREASE BY THEN AND ALSO DEPENDS UPON WHAT HAPPENS IN THE POLITICAL ENVIRONMENT IN THE MIDDLE EAST. FOR NOW, MOTORISTS ARE JOANING IT WHILE IT LASTS. MAKES YOU NOT FEEL GUILTY ABOUT FILLING UP. BY MEMORIAL DAY PRICES COULD BE 10 HIGHER THAN THEY ARE NOW, BUT HE SAYS A LOT OF THAT DEPENDS ON THE POLITICAL SITUATION IN THE MIDDLE EAST.
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