Pacific Power encourages customers to act now to maximize tax credits
The federal government is ending some energy improvement tax credits incentives for homeowners on Saturday, December 31. Pacific Power wants to make sure customers know the deadline so they can act quickly to realize the benefits of these tax breaks.
“Residents have until Dec. 31, to make upgrades to their homes, from furnaces to water heaters so that they can write them off on their 2011 federal taxes,” said Angela Jacobson of Pacific Power. “Even after that deadline, however, Pacific Power customers will still have access to some of the best incentives in the country from Energy Trust of Oregon.”
Here are the tax credits that are expiring:
- Install new heating, ventilating and air conditioning: federal tax credit up to $300.
- Install new electric heat pumps: federal tax credit amounts to 10 percent of the cost up to $300.
- Install new gas furnaces: federal tax credit is up to $150.
Jacobson emphasizes “With holiday spending putting an extra strain on family budgets, we know how important it is that our customers save money wherever they can. Many customers may have already made these expenditures in 2011; for these customers, we want to be sure that they’re aware they can save on their taxes as a result of making their homes more energy efficient.”
Homeowners need to make the improvements this year. Any improvements that they already made this year are eligible for the federal tax deduction. These incentives end in 2011.
The Energy Trust of Oregon always offers multiple incentives, including:
- Install new water heaters: federal tax credit is up to $300. Energy Trust of Oregon refunds range from $35- $200.
- Install high-efficiency windows: federal tax credit is 10 percent of the cost, up to $200. Energy Trust of Oregon offers a $100 cash bonus in addition to standard incentives when you install new, ENERGYSTAR® qualified, high-efficiency windows and a second qualifying energy-saving improvement.
Information regarding Energy Trust cash incentives can be found at energytrust.org/residential.
