Georgetown, Texas (PRWEB) March 4, 2010
New tax credits to encourage energy saving home upgrades make 2010 the most attractive year for a "green" building project, according to Frank Fernandez, owner of Mill Creek Construction.
"You can deduct up to a third of the cost of materials on your tax returns, while you collect a payback every month with lower utility bills," Fernandez says. "You pay yourself back twice!"
The Federal economic stimulus act provides a 30% tax credit for energy-efficiency upgrades. This is an increase from 10% last year. Homeowners can recoup up to $1500 dollars of the cost of materials.
"Some projects can literally pay for themselves," Fernandez added.
One project consumers might want to consider immediately is window replacement. On April 1, 2010, new standards for energy-efficient windows go into affect. Installing windows now, that meet the current standard, will still qualify for the tax credits, and may be available at discounts. Windows can account for a 30-40% loss of heat and cooling in an average home.
"There are amazing options in energy-efficient replacement roofs," according to Fernandez. Up to $1500 of roofing material costs could be recovered with tax credits. Federal energy experts say it is possible to cut cooling expenses in half by installing an energy-efficient roof. Make it a reflective roof and you can reduce peak demand for cooling by 15 percent. If your home is more than 15 years old, it is a candidate for a new roof. "Since you have to replace it anyway, why not go green?" asks Fernandez.
The contractor also points out that the federal tax credits are available for replacing old appliances with ENERGY STAR rated models. Upgraded kitchens can bring a 70 percent return on investment when a home is sold.
"In addition, today's lighting is designed to conserve electricity. You can add a window or skylight to further reduce lighting costs," Fernandez pointed out.
Contractors want to get the word out about these one-time incentives, Fernandez says. "It would be a shame to have them go unused," he points out.
Fernandez recommends consumers contact a building contractor and ask him to outline energy-saving upgrades that are available for 2010 tax credits.
For media inquiries, please call Frank Fernandez: 512-868-0749