Take advantage of tax credits
Energy efficiency is one of the few investments that provides a guaranteed return, and now is a great time to take advantage of newly extended tax credits as well as rebates from Tacoma Power and other existing incentives offered by state or local governments. The American Recovery and Reinvestment Act (ARRA) of 2009 extends and raises the value of residential energy-related tax credits created by the Energy Policy Act of 2005. You can take advantage of ARRA 2009’s unprecedented injection of funding into the economy by applying for these tax credits and saving money on your energy-efficiency or renewable-energy projects. A helpful place to start learning more about energy incentives is the Database for State Incentives for Renewables & Efficiency (DSIRE) at www.dsireusa.org; it also covers federal incentives.

More information on:
Energy-efficiency tax credits for existing homes
Renewable-energy tax credits for existing homes
Energy-efficiency tax credits for new homes

Additional resources
• The U.S. government’s official ARRA 2009 Web site is www.recovery.gov.
• ARRA 2009 is also discussed at the U.S. Department of Energy’s Recovery Web site, www.energy.gov/recovery, along with information on energy efficiency, renewable-energy initiatives and links to what the state of Washington is doing.
• The Tax Incentives Assistance Project (www.energytaxincentives.org) is sponsored by a coalition of nonprofits, government agencies and other organizations in the energy-efficiency field. It was created to inform consumers and businesses about the federal income tax incentives for energy-efficient products and technologies. Relevant tax forms can also be found at this site.
• The Alliance to Save Energy has a helpful tax credit Web site for consumers at www.ase.org/content/article/detail/2654.
• For details on qualifying equipment specifications, see the Energy Star federal tax incentives Web site at www.energystar.gov/index.cfm?c=products.pr_tax_credits.
• DSIRE (www.dsireusa.org) is an excellent resource for state and federal policies and incentives such as tax credits.

Disclaimer: We can provide some general guidance and resources to help you make the most of the opportunities presented by ARRA 2009, but it’s important that you consult a tax professional for your specific needs.

Please note that some of the provisions require that Internal Revenue Service regulations be written and adopted, or updated; and, in general, ARRA 2009 requires that eligible efficiency investments be placed in service between Jan. 1, 2009, and Dec. 31, 2010.