Rebates for energy efficiency

[Valerie S. Johnson]

By Valerie S. Johnson

You want to do the right thing for the environment, of course. Whatever your position on global warming, people are in general agreement that we need to reduce our use of traditional energy resources and at least consider the alternatives. Some of the main contenders include harnessing the power of the sun, the wind, and the waves (see our related story on April 3, 2007, “Who Moved My Wave?”).

There are less altruistic reasons for using energy efficient technologies -- you may save money. But you do need to take a close look at the numbers to see if installing wind mills or buying a hybrid car is going to be a worthwhile investment in the long run. A calculator at the Find Solar website helps you estimate how much you could save by going solar at home.

There is a complicated web of federal, state, local, and utility rebates for using energy efficient appliances and renewable energy sources. Check the Database of State Incentives for Renewables and Efficiency webiste. The DSIRE database, funded by the U.S. Department of Energy, is maintained by the North Carolina Solar Center and the Interstate Renewable Energy Council.

For example, North Carolina has a residential property tax exemption for solar heating and cooling systems. California has an income tax deduction for interest on loans taken to finance a range of alternative technologies. The DSIRE website also lists federal incentives, such as the personal tax credit available for buying certain energy efficient appliances including water heaters, furnaces, and boilers.