Energy Rebates: Save On Your Taxes in 2009 & 2010

(Image credit: Apartment Therapy)

We have been thinking about a tankless water heater for a while. Taking two showers in a row is almost impossible with our traditional tank water heater. The government has added incentives to encourage homeowners to upgrade to energy efficient appliances, tankless water heaters, ENERGY STAR rated windows, roofing, and insulation. It will save you money in the long run and is good for the environment.

You can write off up to 30% of the original cost on any of the qualified energy efficient improvements with a limit of $1,500 in tax credits. Depending on what you want to replace, it could be a significant amount of money. The credit is extended for 2010 as well, which gives you more time to save up and commit to living green.

For more information on tax credits, visit the ENERGY STAR website.