Solar Panels For Homes

In February of 2009, President Barrack Obama signed a bill called the “American Recovery and Reinvestment Act of 2009″. The idea of the bill is to stimulate the U.S. economy by providing incentives for rebuilding the country’s infrastructure, financing small business opportunity, extending tax credits to homeowners and more.

Of course, these types of programs rarely impact the little guy, but in this case it really does. That’s because any homeowner can take advantage of this program to receive tax credits for basic improvements to their home.

This stimulus plan provides tax credits of 30% for home improvements such as replacing water heaters and air conditioning systems with new high-efficiency equipment. That means you basically get a 30% discount (up to $1500 in most cases) for buying this energy-saving equipment.

Tax credits are not the same as tax deductions. A tax credit is applied directly to your tax liability. That means if you owe $2,000 to the Internal Revenue Service, and you’re entitled to a $1,500 tax credit, you’ll only have to pay $500 next April.

You may be wondering what types of equipment qualify for tax credits under this plan. There are too many to list here but your local contractor should be able to give you the details. If it’s a current high-efficiency furnace, air conditioner or water heater, chances are it qualifies for the $1,500.

There are actually two upgrades that are not capped at $1,500. If you install a qualifying geothermal heat pump system, or a solar water heater, you’ll receive 30% of your investment back at tax time. That’s a dramatic discount on equipment that will keep paying you back for years and years.

The best part about this program is you don’t have to do anything special to take advantage of it. You don’t have to visit any websites, call any government agencies, file reams of paperwork or make a case before Congress. All you have to do it file one simple form with your tax return. The IRS does the rest.

It’s not very often that the little guy gets to reap the benefits of a government program. This is an opportunity that you really don’t want to miss out on. Be sure to check with your local air conditioning, heating or plumbing contractor for more information about this Stimulus Plan. If you’re planning to upgrade your home, this is like money in the bank.

Bob Fink has over 25 years of experience in the home services field. He’s installed and serviced gas water heaters, electric water heaters and tankless water heaters. You can find more articles by Bob at http://www.waterheaterfacts.com

Solar Air Conditioner – Solar Evaporative Cooler

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