The federal government provides grants and tax credits for energy-efficient homes
In the United States, the federal, state and local governments provide grants related to green homes and green buildings. These grants range from tax incentives to receiving cash back from installing energy-efficient appliances and technology, and are available to consumers, nonprofits and businesses in the related industries. Does this Spark an idea?
Federal Tax Credits
Tax credits are available from the federal government for all consumers who purchase energy-efficient products or renewable energy systems for the home. Items such as Biomass stoves, additional insulation and energy-efficient water heaters, windows, doors and skylights all qualify for a tax credit of 30 percent of the cost, up to $1,500. For alternative energy such as small wind generators, geothermal heat pumps or solar energy systems, there is a tax credit of 30 percent--including the cost of installation--with no upper limit.
To claim the tax credits, you need to submit form 5695 with your taxes, and save your receipt and the Manufacturer’s Certification Statement, which is a statement from the manufacturer certifying that the product qualifies for a tax credit. You can usually find this statement on the manufacturer’s website.
Green Communities
Green Communities provides grants, financial help and technical assistance to developers to build and rehabilitate homes that are healthier for the community and the environment. The organization deals with industry home builders and nonprofits, but not individual consumers. Green Communities provides grants up to $5,000 to assist green developers in integrating green building systems, and provide another $5,000 grant to assist in training and teaching green design principles to the residents and management staff once the building is completed.
State Grants
California, New York, Massachusetts and Maryland are four of the states that provide specific grants for green homes, as of 2010. The Emerging Renewables Program in California gives rebates to consumers who install qualifying renewable energy systems. The New York Department of Environmental Conservation manages and administers a Green Building Tax credit available to consumers, nonprofits and businesses in the industry. The Massachusetts Technology Collaborative has a Renewable Energy Trust that provides financial assistance for green building and clean energy projects. The Maryland Energy Administration gives an eight percent tax credit for green buildings that are over 20,000 square feet.
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