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GREEN TAX INCENTIVES FOR CONSUMERS – Including our Aventura residents

 There’s still time to take advantage of the many green tax incentives available to consumers.

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There’s one month left in 2009  to take advantage of green tax incentives. From putting smarter windows in your house to installing a solar water heater, move quickly to get back a considerable percent of your investment.

Until December 31,  2009,  you have plenty of time to take advantage of the green tax incentives available to consumers. While some of these tax credits or deductions have been available for several years, many were created as part of the American Recovery and Reinvestment Act.

The following types of energy-efficient products may be eligible for a 30 percent tax credit, up to $1,500: cool_roof

  • Biomass stoves
  • Advanced main air circulating fan
  • Air source heat pump
  • Central air conditioning
  • Gas, propane, or oil hot water boiler
  • Natural gas or propane furnace
  • Oil furnace
  • Home insulation
  • Reflective roofing 
  • Non-solar water heaters
  • Energy-efficient windows, doors and skylights
  • Storm windows and doors 

These products must be installed on an existing, primary residence. New construction projects as well as rental property upgrades will not qualify for the tax credit under this plan. Although 2009 is coming to a close, these tax credits are valid for projects completed through Dec. 31, 2010.

In addition to the above program, there is a series of tax credits available for energy-efficient upgrades made on existing homes and new construction projects as well as second or vacation homes. As with the previous program, rental property does not qualify for these tax credits.

The following items are eligible for a 30 percent tax credit with no maximum credit through Dec. 31, 2016:
  • Geothermal heat pump
  • Residential wind turbines
  • Solar water heaters
  • Solar panels
The final tax credit program offered to consumers through the Department of Energy EnergyStar program is for residential fuel cell installations. Fuel cell products that have the capacity to produce at least 0.5 kilowatts of power may be eligible for a $500 max credit per 0.5 kW.
 
Are you interested in specific details about these programs? You can visit the Federal Tax Credits for Consumer Energy Efficiency site. Or simply leave me a comment and I will provide you more information regarding your specific question. As always, I am here to assist you with your real estate green needs.

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