Deadline approaches for federal tax credit for energy efficient upgrades
UPDATED: Friday, April 13, 2012 - 9:53am
WACO-- If you're hoping to get a federal tax credit for energy efficiency improvements for your home, it's now or never. The deadline to get the tax incentive is Dec. 31. The tax credit for making energy efficient home improvements hasn't just helped out participants.
Companies in McLennan County that specialize in the energy efficient products have seen a boost in business as well. Brazos Construction owner, Tyler Martin, says, "The tax incentives have helped create buzz and create awareness, and I think that will carry over even after the incentives are gone."
The tax credit accounts for 30 percent of the upgrade price. The program started in mid 2009 in the American Recovery and Reinvestment Act stimulus plan. Since the incentive program started, businesses in Waco say they've seen an increase in the number of people interested in efficient homes and one Brazos Construction has increased hiring by 25 percent, helping the overall economy. "People are building less homes, but the homes they're building they want energy efficient and they want high performance and we specialize in building high performance homes," says Martin. "So, where other builders aren't doing so well, we're still going because of that."
Martin says homeowners are mostly interested in the savings they will make on electricity bills, and the incentive program is an added bonus. To find out if you can qualify,click here.