President Obama has extended the existing federal tax credits and made a couple of useful changes for 2009-2010.

1. Solar electric is a straight 30% up to a $2,000 credit.  Include the cost of your electrician and other actual labor costs.  If you are a DIY your labor is free. Update May 2009: We understand the $2,000 limit has been dropped but cannot at this time confirm exact limits.

2. Qualified solar water heating property costs is a straight 30% up to a $2,000 credit.

3. Qualified small wind energy is a straight 30% up to a $4,000 credit. Update May 2009: We understand the $2,000 limit has been dropped but cannot at this time confirm exact limits. The size limit is 100kw installations.

4. Qualified SEER 14-16 Air conditioning and Heat pumps have 30$ up to $1,500.

This is a good leap forward for geothermal, solar water heaters, solar panels all qualify.  Caulk your house to seal up leaks, add weather stripping on the doors, get new air ducts installed, these all count.  A fresh coat of paint even helps and makes the old castle look better at the same time.

If your calculation exceeds the allowed rebate you can roll the overage forward to future years so get busy and start your conversion.  Later you will be part of the solution to our energy problems.

There is an option for fuel cell rebates but who has a real product for real people?  Nobody.

You must reduce the basis cost of your home by the amount of any credits allowed.  This won’t matter for people to sell a home and buy a home costing more money.  This comes into play if you sell and do not buy anything as a replacement.  The IRS wants to tax the profit you made which is sold price minus cost.   See your accountant we are not accountants.  Here is a link to the tax form

Direct excerpt from the energy department.
“Home Energy Efficiency Improvement Tax Credits
Consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in existing homes can receive a tax credit for 30% of the cost, up to $1,500, for improvements “placed in service” starting January 1, 2009, through December 31, 2010.”

May 2009 Update: Radiatn barriers may not qualify, labor will not qualify for tax credits.

Automotive tax credits for Hybrids is worse.

This may or may not be new but there is a dis-incentive for automakers to produce Hybrid cars.  After 60,000 elegible vehicles are sold the tax credit will be phased out for each manufacturer.  Is Obama in bed with big oil too?

Do your own research at the energy department.
Automotive tax credit summary

We are still digesting all the publications and some of the credits for business just make you laugh.  There is more work to do..
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Make an effort to use a little less water today. Texas is considered to be in a water drought. Water isn’t everywhere in usable form and this makes water a scarce resource, not only worth conservation efforts but essential action must be taken to preserve our tributaries and water supplies.  The UN initiative called “Water For Life” and “Water for Women” seeks to get awareness of the problem areas and commitments needed to secure safe, sanitary water.

Would you be surprised to know that a million people a year die from Malaria?

What are a few things you do on a personal level?
Clean up a beach or local lake area.
Check your sprinkler system.
Use biodegradable products.
Use hydrogen based bleach instead of Chlorine bleach.
Teach a child to use less water when brushing thier teeth.

There are thousands of possibilities. Visit the UN website if you want more info:   www.un.org/waterforlifedecade

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