Showing posts with label federal tax credit. Show all posts
Showing posts with label federal tax credit. Show all posts

Thursday, January 28, 2010

Show Me the Money!

Why build green? Let me count the ways:
  1. You are helping to preserve ecosystems

  2. You are taking an active role in improving your health

  3. You can GET MONEY BACK (on the local, state and federal level)!!
Clearly, I’m excited about the last point on the list. Why?

On the State Level:
Today, we received an e-mail that read, in part:

I'm pleased to advise you that the $6,000 PUC rebate for your PV facility has been approved.

That’s right! We’ll be getting $6,000 back from the New Hampshire Public Utilities Commission for the roughly $15,000 photovoltaic system we will install. After finding out that there was an opening in the New Hampshire PUC’s limited rebate program, we jumped on the opportunity to apply. We mailed in our application along with Solar Wind Electric’s shading analysis of our roof (which showed placement of the PV panels), and photos of our home and our views to the east, south and west.

On the Local Level:
We’ve submitted our application to the New Hampshire Electric Co-op for their $1,500 rebate offered to homeowners who install solar hot water heaters.

On the Federal Level:
We’ll be able to apply for a tax credit (which reduces the tax you pay, dollar-for-dollar) for both our solar hot water heater and PV system. The tax credit is for 30% of the cost with no upper limit. This means we can get $4,500 back for our PV system and $2,250 for our solar hot water heater.

Thursday, October 29, 2009

Wind Power

Growing in popularity and shrinking (sort of) in price, wind power is becoming a viable option for homeowners today.

How does it work? Through use of a wind turbine, wind energy is converted into a useful form of energy, like electricity. And like solar power, wind energy—in the form of residential wind turbines—offers homeowners a list of appealing benefits:

They’re clean- Small wind turbines use wind energy to produce emissions-free power. In fact, wind power actually offsets pollution that would have been generated by your utility company. (American Wind Energy Association)

They’re energy saving- One will require less electricity from the electric company because the energy generated from wind turbines will help to power home appliances.

They’re money saving- Wind power allows homeowners to generate their own power and reduce energy bills.

The American Wind Energy Association estimates that a small residential wind turbine can offset about 1.2 tons of air pollutants and 200 tons of greenhouse gases over its lifespan.

Residential wind turbines exist in at least 47 states in the U.S. The majority have been installed in the Northeast and Midwest. And we won't be far from the highest surface wind speed ever recorded.

We were thinking of installing a grid-connected system. This type of wind turbine would provide no power if there wasn’t enough wind to spin the blades. However, as wind speeds increase, the turbine power increases and decreases the amount of power purchased from a local utility. If the turbine were to ever produce more power than our house required, many local utility providers offer “net metering”—where additional electricity is sold to them. (Yep, we could theoretically sell our extra power to the utility company so other neighbors could use it!)

We researched the wind patterns in our area by using this interactive map. However, wind speeds vary greatly and it is suggested you get in touch with a professional to measure and evaluate the wind.


We contacted Solar Wind Electric—a company based in VT that specializes in renewable energy and sustainable living—for this service. A few weeks ago they came to our site to evaluate the wind speed. However, they requested that we take wind measurements on our lot over the next year to get a more accurate reading. According to the American Wind Energy Association:

In very hilly or mountainous areas, however, it may be best to collect wind data before purchasing a system to ensure that your site is not in a sheltered area.
So, we wait.

If you’re thinking about installing a wind turbine, be sure to take advantage of the 30 percent federal tax credit available to small-wind consumers.

Wednesday, October 28, 2009

Solar Hot Water

Using the sun to heat water is an idea that has been around for years. And we’re going to put the tried-and-true warming method to work in our home.

How solar water heaters work: the sun’s energy is used to heat water either directly or indirectly. When heating indirectly, a fluid (such as antifreeze) is heated by the sun, which then heats the water through a heat exchanger. This solar-heated water is stored for use as needed.

Solar hot water systems offer homeowners a host of attractive advantages:

They’re nonpolluting—Fueled by the sun, solar hot water systems don’t emit greenhouse gasses; therefore they don’t contribute to global warming.

They’re energy saving—Solar water heating systems can decrease the amount of electricity to heat water by 80 percent. (U.S. Dept. of Energy)

They’re money saving—On average, homeowners spend about 25 percent of home energy costs on heating water (U.S. Dept. of Energy). Solar water heaters use free solar energy and can save hundreds of dollars per year. It’s estimated that solar hot water systems pay for themselves in four to eight years.

Sure, it’s cloudy in the White Mountains (that is how they turn white!), but we’re not worried. Our system will be mounted on our south-facing roof, and even on the grayest days, the sun can provide at least 50 to 60 percent of a household’s annual water heating. (Solar water heating systems installed in San Francisco can produce enough energy to provide about 50 to 80 percent of a typical household’s annual water heating needs.)

During extended cloudy days, and during the coldest winter months, we will have a backup conventional electric hot water heater that will kick on.

All Energy-Star solar water heaters qualify for the government tax credit. As stated on the Energy Star website:

Tax credits are available at 30% of the cost, with no upper limit through 2016 (for existing homes & new construction) for: solar water heaters
We are buying an Enerworks (Canadian) solar hot water system.