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Understanding Alternative Energy Incentives

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The energy crisis being experienced across the United States in regard to outrageously high gas and heating oil prices has led many people to look to alternative energy as a solution to their energy needs. There has also been a lot of concern over how using fossil fuels effects the planet in a negative way through pollution, greenhouse gases and carbon emissions. Many people want to do their part to help conserve energy and reduce the stress on the planet but don’t know how to go about it. Having relied solely on fossil fuels and traditional energy methods it can be daunting and unnerving to consider switching over to alternative sources of energy. The state and federal authorities have realized that the hesitation felt by many also may be as a result of the expense of getting started using alternative energy sources. A full home solar photovoltaic panel system will cost around $20,000. And while this system will eventually pay for itself in electricity savings, most people simply do not have the financial capacity to shell out that kind of money for such an endeavor. Fortunately there are alternative energy incentives offered by state and federal government agencies to encourage people to go green and utilize alternative energy resources. Alternative energy incentives for homeowners who install alternative energy products range from income tax incentives to property tax exemptions.

In 2005 The Energy Policy Act provided alternative energy incentives in the way of federal tax credits for anyone who purchased alternative energy products such as hybrid cars, wind turbines, and solar panels. In many towns across the country, such as Nashua New Hampshire, partial exemptions are given for property taxes when solar panels or wind energy systems are installed, offering up to $5000 exemptions for solar power. Contractors that install alternative energy devices and systems generally have a good idea as to which alternative energy incentives are available and what the alternative energy incentives may amount to in terms of dollars saved. Another way to find out what alternative energy incentives is to visit the National Association of State Energy Officials website for more information. Individual states local utility companies also are a good resource for discovering what alternative energy incentives are available. The high energy prices and concerns over foreign fuel sources recently prompt4ed South Carolina to pass alternative energy incentives that provides assistance to individuals and companies who wish to install alternative energy systems. State and Federal elected officials appear to be pushing for more and more alternative energy incentives to be put into place in direct correlation to the concern over the cost of fossil fuels and their desire to meet the needs of their constituents.



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