With all the talk about the federal government's efforts to revive the economy using business bailouts, it might be easy to overlook a key form of consumer bailouts. It's not quite the same deal that the financial institutions are getting but consumers who spend on your clients' energy-efficiency and renewable-energy products and services will be rewarded. Homeowners can earn sizeable tax credits when they make specific home upgrades and improvements.
Here are the details:
- Consumers can earn a 30% credit on up to $1,500 worth of spending on new windows, insulation, and renewable biomass fuel stoves (wood, pellets, etc) in 2009 and 2010.
- Consumers can earn a 30% credit with no cap on spending related to renewable-energy products such as solar hot water systems, solar electric and geothermal systems.
Work with your clients to emphasize the tax credit angle when they advertise qualifying products. It might just be a key way to increase revenues.[Source: Bounds, Gwendolyn. "How Your Home May Qualify For Bailout Cash," Wall Street Journal. 3.18.09