Monday, February 7, 2011

Facts You Need To Know About Energy Rebates

Federal appliance rebates are going fast. The Cash for Appliances program has drawn lots of attention where you could have rebates between $50-$500 swapping energy saving appliances. But the fact is, it's typically doled out on a first-come, first-served basis, and in some states, the money is already gone before they open! To be sure, check

Most states have their own programs. So if you aren't qualified for the Cash for Appliances rebate, you might still be able to get cash back from more than 600 programs run by various utilities and more than 100 state programs offering incentives that would help you boost your home's energy efficiency.

You can also get chances to get federal refunds ;). Through the end of 2010, you can possibly claim up to $1,500 federal tax credit for up to 30% of the cost of many energy-related improvements. Another source is the Cash for Caulkers bill passed by the House in May and soon to become a law. It gives homeowners hefty rebates on various energy-saving projects.

Before getting a rebate, do the math first. If you're not sure where your money is best spent, a comprehensive home energy audit which pinpoint leaks, is about $400. But some states or utilities conduct basic audits for free or will reimburse some of the cost.
Small projects can still pay big. There are lots of ways to save energy without spending a lot.
For example, every degree you increase or decrease your thermostat will knock 2% off your annual heating and cooling costs; or replacing your 5 bulbs with compact flourescents can make $70 a year off your energy bill.