200 year-old Advice Saves Your Wallet

 

Broomall, PA, November, 2009  – Well over 200 years ago, Benjamin Franklin cautioned that,  “A penny saved is a penny earned.”  Now with the uncertain state of the economy, the current administration is falling into step with the founding father. In fact, the federal government has passed legislation that helps Americans save thousands – and that’s no small change.

Almost everyone has heard of the Stimulus package passed earlier this year. What they may not know is that it includes tax credits for homeowners who are willing to invest in high-efficiency equipment for their homes. While the tax credits were available before this year, they were capped at $500. The new tax credits, however, are triple that amount – meaning a homeowner can receive a credit of up to $1,500 for a qualifying home comfort system.

“As a tax credit, this reduces the amount you will pay in taxes, but that’s just one part of the savings,” said Tommy Feehan of Feehan Plumbing & Heating.  “When you purchase an energy-efficient home comfort system, or make one of the other upgrades, you’ll also reduce what you’re paying in utility bills. 

In other words, the tax credit helps you with the cost of the system; the energy efficiency of the system helps with the cost of your utility bills.” 

Another benefit of this tax credit program is that many state and local governments and utility companies are pitching in to make the savings even greater for consumers. Many companies are offering rebates or special financing for those who purchase their high-efficiency equipment now.

“What credits a homeowner qualifies are can get complicated,” explains <Name>. “The equipment has to meet certain standards, and not all systems are created equal. That’s why it’s so important to call a qualified energy-efficient professional before you get started.”

These tax credits expire in 2010, so time is rapidly running out. Homeowners should act quickly – with the advice of a home comfort professional they trust – to take advantage. The higher efficiency equipment saves energy, helps the environment, and keeps the green where it belongs – with the homeowner.