Out
of Washington
March 26, 2010
Secretary Chu Highlights Recovery Act Tax Credits for Home
Energy Efficiency Improvements
Visits Pennsylvania Energy Efficient Window Manufacturer with
U.S. Representative Kathy Dahlkemper
(DOE) ERIE, Pa. – Today while visiting Seaway
Manufacturing Corporation – an energy efficient window manufacturing
company in Erie, Pa. – Secretary Chu highlighted the tax credits
available to American families as a result of the American Recovery
and Reinvestment Act. Taxpayers are eligible for up to $1,500 in tax
credits for a range of home energy efficiency improvements – such as
adding insulation, installing energy efficient windows, or replacing
water heaters.
“Investing in energy efficiency is one of the
quickest and most cost-effective ways reduce the energy bills in
your home,” said Secretary Chu. “We want to make sure that families
that made those investments are taking advantage of the Recovery Act
tax credits, which can put up to $1,500 into their pockets.”
“Thanks to the Recovery Act, homeowners can save
as much as $1,500 in tax credits for energy improvements—a major
savings for families. With quality, energy efficient products made
right here in Erie, homeowners in our region can save money and
support local businesses at the same time,” said Rep. Dahlkemper.
“Western Pennsylvania boasts an innovative and hardworking
manufacturing base; our region is poised to be a leader in new
energy technologies.”
The Recovery Act expanded residential efficiency
tax credits for some energy-efficiency improvements, including
replacing doors and windows, upgrading heating, ventilation and air
conditioning equipment, adding insulation, or replacing a water
heater. Through 2010, homeowners can receive a tax credit for 30
percent of the cost of the improvements, up to $1,500.
Secretary Chu reminded taxpayers that they can
collect on those benefits this year as they file their 2009 tax
returns, and can continue to receive tax credits through the end of
this year. To help make sure that taxpayers are aware of the
Recovery Act benefits they are eligible for this year, the Obama
Administration launched a new interactive Tax Savings Tool.
These tax credits are in addition to the energy
and cost savings that come with energy efficiency. Investments in
efficiency products can save homeowners up to 40 percent on energy
costs over the long-term.
Consumers who installed renewable energy systems
in their homes, including solar panels, geothermal heat pumps or
wind turbines, are also eligible for tax credits for 30 percent of
the cost of the systems, which are available through 2016. Read
additional detail on the renewable energy tax credits.
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