A winter of high power bills? Not for some!
The recent cold snap sent our gas and electric meters into overdrive as we all tried to stay warm, and the higher bills we all just opened proves it. But many folks suffered more than a little sticker shock. Many of you had a cold breeze coming in around your windows and doors, cold floors to walk on and freezing pipes to fix. If that was you, there has never been a better time to fix the problem so you not only save on energy usage and costs, you get a cozy, more comfortable home and fewer plumbing issues to attend to as well. And did I mention the possible tax incentives? Let me explain.
Replacing old leaky windows with new Energy Star rated ones can save lots of energy as well as qualify for tax credits. Unless the window sizes are custom, window replacement is relatively fast and inexpensive for the added value you get in return. Here in the Northwest, replacing single pane windows can save $460 per year, according to the Energy Star website. Replacing double paned saves around $50.00 per year.
Roof replacement and adding proper insulation also qualify for tax credits, both for up to 30% of the materials cost. Upgrading an older furnace with a more efficient on also qualifies, with labor included in the total of 30% of the costs. And don’t forget the water heater and refrigerator, two appliances that are almost never turned off. Speaking of water heaters, the addition of a solar hot water system might be a wise idea. Granted, many people had theirs freeze up on them during the above mentioned cold weather, but overall they are a great use of the sun’s free energy.
The best thing to do is to check with your tax professional or accountant for the details about your personal tax situation and tax credit availability. But even if you have no tax liabilities and will get no tax credit, you still stand to improve your property value, increase the homes efficiency, decrease your power bills and fell better on the inside…of your house.