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How to save on your energy bill while improving the environment! Presented by COYLEAN SCHLOEGEL WASHINGTON ST. TAMMANY ELECTRIC, COOPERATIVE.

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Presentation on theme: "How to save on your energy bill while improving the environment! Presented by COYLEAN SCHLOEGEL WASHINGTON ST. TAMMANY ELECTRIC, COOPERATIVE."— Presentation transcript:

1 How to save on your energy bill while improving the environment! Presented by COYLEAN SCHLOEGEL WASHINGTON ST. TAMMANY ELECTRIC, COOPERATIVE

2 So how can I start saving? There are three big ways residential consumers can connect to energy savings through the stimulus: Energy Efficiency Tax Credits (2009, 2010) Renewable Energy Tax Credits (20092016) Weatherization Assistance Program Community Action Committees

3 Weatherization pays! Why is weatherizing (sealing air leaks, proper insulation) your home important? Heating and cooling expenses account for 43 percent of an average homes energy bill. The Department of Energy estimates the average U.S. home could save $358 a year in energy costs through weatherization.

4 Average Home Energy Costs Source: 2007 Buildings Energy Data Book, Table 4.2.1, 2005 energy cost data.

5 Common Household Air Leaks

6 OK, Im soldmaking my home more efficient is a great idea! But what if I dont have the money to make the upgrades? RESULT?

7 Option 1: Energy Efficiency Tax Credits

8 Energy Efficiency Tax Credits Get a tax credit for up to $1,500 dollars on the cost of insulating, sealing and weather-stripping your home. The credit is for 30 percent of the cost of qualifying improvements made to an existing home in 2009/2010. Theres a $1,500 cap for BOTH years (can not receive $1,500 in 2009 and another $1,500 in 2010). Use IRS Form 5695 to claim the credit and get a Manufacturer Certification Statement for your records.

9 Energy Efficiency Tax Credits How do I find out what qualifies? ENERGY STAR, a joint program of the DOE and U.S. Environmental Protection Agency, sets efficiency guidelines for appliances, heating and cooling systems, and more. A list of items qualifying for stimulus tax credits is available at www.energystar.gov, keyword tax credits.www.energystar.gov NOTE: Not all ENERGY STAR models qualify for a tax credit!

10 Energy Efficiency Tax Credits What part of the cost is covered? Installation costs are NOT covered by the tax credit for windows, doors, insulation, roofs. Installation costs ARE covered for HVAC (Heating, Ventilation and Air Conditioning) systems and biomass stoves.

11 Must have a Solar Heat Gain Coefficient (SHGC) and U-factor less than or equal to 0.30 When combined with the window/door over which its installed, it must meet the International Energy Conservation Code (IECC) in your climate zone. Energy Efficiency Tax Credits Examples of what qualifies: Exterior Windows, Doors and Skylights Storm Windows and Doors

12 Energy Efficiency Tax Credits Examples of what qualifies: Metal, Asphalt Roofs Insulation All ENERGY STAR metal and asphalt roofs qualify. Must be expected to last 5 years or have a 2 year warranty. Primary purpose must be to insulate. For example, vapor retarders are covered but insulated siding does not qualify. Also must meet 2009 IECC and be expected to last 5 years or have a 2 year warranty.

13 Energy Efficiency Tax Credits Other qualifying upgrades: Central Air Conditioning Air-Source Heat Pumps Natural gas or propane furnace Gas, propane, or oil hot water boiler & oil furnace Advanced main air circulating fan Select non-solar water heaters Biomass stoves Remember to check ENERGY STAR to see guidelines!

14 Option 2: Renewable Energy Tax Credits

15 Renewable Energy Tax Credits Get a tax credit for 30 percent of the costno cap!for installing renewable energy generation. The credit is for 30 percent of the cost of qualifying improvements made to both existing homes and new construction between Jan. 1, 2009 and Dec. 31, 2016. There is no cap on the credit. Covers material costs and installation. Use IRS Form 5695 to claim the credit and get a Manufacturer Certification Statement for your records.

16 Renewable Energy Tax Credits Examples of what qualifies: Geothermal Heat Pump Solar Water Heaters Photovoltaic Systems All ENERGY STAR geothermal heat pumps qualify for the tax credit. All ENERGY STAR solar water heaters qualify for the tax credit. Must be used in the home; not for swimming pools/hot tubs. Photovoltaic systems must provide electricity for the residence, and must meet applicable fire and electrical code requirement.

17 Renewable Energy Tax Credits Other qualifying generation: Residential Small Wind Energy Systems Residential Fuel Cell and Microturbine system (up to $500 per.5 kW of power capacity )

18 QUESTION: Can I get an energy efficiency tax credit AND a renewable energy tax credit? If you meet the criteria you can do that, but these are not refundable creditsthey can increase your refund by reducing the taxes you owe, dollar for dollar, and can be carried forward to reduce your taxes in following years, but you don't get a check for the credit amount. Other tax questions? Talk to your tax advisor!

19 Option 3: Weatherization Assistance

20 Weatherization Assistance Dont have the money to make improvements? You might qualify for the Weatherization Assistance Program. For households earning up to 200 percent of the national poverty level, the federal Weatherization Assistance Program provides an average of $6,500 in efficiency upgrades (previously $2,500). For a family of four, thats an income limit of $44,100. Must apply through local Community Action Committee.

21 Weatherization Assistance For families with more than 8 persons, add $7,480 for each additional person.

22 Members who qualify for the Weatherization Assistance Program may contact: Louisiana Housing Finance Agency Louisiana Housing Finance Agency 2415 Quail Drive Baton Rouge, LA 70808 Phone: 225-763-8700 Fax: 225-763-8710 The Weatherization Program contact is: Darleen Okammor Manager Phone: 225-763-8700 ext 234 Email: dokammor@lhfa.state.la.usdokammor@lhfa.state.la.us

23 Question: How can you save with the stimulus? Remember, there are three ways you can connect to energy savings through the stimulus: Energy Efficiency Tax Credits (2009, 2010) Renewable Energy Tax Credits (20092016) Weatherization Assistance Program Community Action Committees

24 But wait, theres more!

25 Special Co-op programs Washington St. Tammany Electric, Cooperative also provides incentives for our members to make their homes efficient! Example A Example B For special state rebates, check the Database for Statewide Initiatives for Renewable Energy and Energy Efficiency, www.dsireusa.org.www.dsireusa.org

26 Questions? Coylean Schloegel, Washington St. Tammany Electric, Cooperative cschloegel@wste.coop, 985.839.3562 www.wste.coop


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