Six Renewable/Efficiency Energy Tax Credits You Need to Know About

[wtmusic]

"A host of new tax credits are now available thanks to the American Recovery and Reinvestment Act (ARRA). The only drawback is that there are so many ways to reduce your tax bill by investing in energy efficiency and renewables, that it may be hard to keep track of them all.

While visiting Seaway Manufacturing Corporation in Erie, Pennsylvania today (they make energy efficient windows), Secretary of Energy Steven Chu reminded his audience that 'Investing in energy efficiency is one of the quickest and most cost-effective ways reduce the energy bills in your home. We want to make sure that families that made those investments are taking advantage of the Recovery Act tax credits, which can put up to $1,500 into their pockets.'"

1.Residential Energy Property Credit (Section 1121)
2. Residential Energy Efficient Property Credit (Section 1122)
3. Plug-in Electric Drive Vehicle Credit (Section 1141)
4. Plug-In Electric Vehicle Credit (Section 1142)
5. Conversion Kits (Section 1143)
6. Treatment of Alternative Motor Vehicle Credit as a Personal Credit Allowed Against AMT (Section 1144)

http://thephoenixsun.com/archives/9055

[NNadir]

1. These tax credits for wealthy people, I would guess, are in lieu of education, health care, and...

actually doing something meaningful about the environmental tragedy we are now experiencing.

Generally I think Secretary Chu is the greatest Energy Secretary ever, but I can't approve of this sort of thing really.

What we need in these times, far more dire than people realize, is economic efficiency. This ain't it.