Saving Energy, Money AND Taxes? Great! Getting Alternative Energy Tax CreditsWell, these credits are available to you when you use these new technologies in your home, with your automobiles, or in your business! Let's face it, which of us wants to pay more in taxes than is absolutely necessary or a greater portion than we really owe? Many law-makers and political leaders in the more developed countries of the world are now realizing that the world is moving toward the consensus that fossil fuel use and dependency must be reduced (if not completely eliminated altogether). 
Seeing this trend and this change in thinking, law-makers and leaders are offering more and more incentives for individuals and businesses when we use these alternative energy technologies.Alternative energy tax credits are just one of the incentives available to you. These tax credits (at least where we are in the United States) are offered at both the federal and state levels in most states and locales. About Tax CreditsA tax credit is generally more valuable than a tax deduction. This is because a tax credit reduces tax dollar-for-dollar. A tax deduction only removes a percentage of total tax that may be owed. The Energy Policy Act of 2005 (EPACT) was signed by President Bush on August 8, 2005. EPACT offers consumers and businesses federal tax credits beginning January 2006. These tax credits are for things like purchasing fuel-efficient hybrid-electric vehicles and appliances and products that are energy-efficient. Automobile Tax CreditsDepending on the fuel economy and the weight of the vehicle, individuals and businesses who buy or lease a new hybrid gas-electric car or truck are eligible for, and can receive, an income tax credit of $250-$3,400 dollars. If you buy more than one vehicle, you are eligible to receive a tax credit for each one. ** We'll also note that this tax credit will be phased out for each manufacturer once that company has sold 60,000 eligible vehicles - so get in on this before that happens. Tax Credits for Home EnergyIf you purchase and install specific products like insulation, energy efficient windows, roofs, doors, and heating and cooling equipment in your home, you can receive a tax credit of up to $500 dollars. You can also receive a credit equal to 30% of your qualifying expenditures for purchases you make on qualified photovoltaic and solar water heater equipment. (This is up to a maximum of $2,000). Other Tax IncentivesThere are also tax incentives available to businesses that buy hybrid-vehicles, build energy-efficient buildings, and improve energy efficiency in their commercial buildings. Also, small agri-biodiesel producers can receive biodiesel and ethanol credits of 10 cents per gallon for every gallon of agri-biodiesel produced - up to 15 million gallons. Where Do I Find More Info?If you live in the United States, you can view more specific information on these tax credits and their availability to you by visiting the
DSIRE (Database of State Incentives for Renewables & Efficiency) website.
You are welcome to research and use any and all alternative energy tax credits at your disposal to both save money and help move us all toward a better future in renewable energy. And, as they always say, there's no better time than the present... Return from Alternative Energy Tax Credits
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