How Much Of A Energy Tax Break Can I Expect?

As many may know, President Obama (USA) has signed into effect the Recovery Act which plans to create or save millions of jobs across America. In addition to the creation of many jobs, you will be rewarded with tax credits if you energize your home with energy efficient products and by making your own energy, whether by solar or wind power. The following is a short overview of what you can expect:

Homeowners who purchase and install specific energy-efficient products such as windows and doors, to name a few, can receive a tax credit (that is dollar-to-dollar and not just a deduction, by the way) of 30% of costs, up to $1500 for improvements "in service" from January 1, 2009 to December 31, 2010. Consumers who install solar energy systems and small wind systems and other products can receive 30% tax credit when placed in service before December 31, 2016.

Since it seems the number one concern with implementing solar panels is the installation, the tax credits and the overall savings will offset these costs. Furthermore, for the do-it-yourselfers, your cost will be substantially lower.