West Virginia Provides An Energy Rebate Through Residential Tax Credits

There have been rapid advancements in renewable energy technology over the past couple of decades. Residential energy sources, such as oil and gas heat, have expanded to include solar and other power sources. Many homes can get an energy rebate for using sun-powered equipment in residential dwellings. Last summer, West Virginia approved a tax credit for homes that install solar energy technologies.

Solar energy systems provide optimum renewable energy with proven efficiency and cost effectiveness.  Many homes are using sun power as a wise investment to help residents to save money on their residential energy equipment. West Virginia homes can get money back for using renewable energy technologies in their residential dwellings. These tax credits help state residents to promote their environment while getting reimbursed for their energy costs.

West Virginia’s Residential Solar Energy Tax Credit is offered to residents who use sun power to generate hot water, space heat or electricity in homes.  Residents must get at least half of their heating or cooling power source from solar energy for hot water tax credits. Taxpayers can receive a tax credit of 30% when they buy and place solar equipment in their homes, but not to exceed $2,000.

The personal tax credit allows residents to carry their tax award to each of the next few tax periods until the money is used up, but no more than four years. The West Virginia Solar Energy Tax Rebate will last until the end of July in 2013, so residents have a few years to capitalize on this tax incentive. In order to take advantage of the program, interested residents have to fill out and submit a Schedule SETC with their residential state tax return.

Residents in West Virginia can maximize their solar powered home heating and electric equipment with state tax credits to help reduce costs and promote green energy usage. The eligible solar equipment does not include such home appliances as hot tubs and swimming pools, however. The West Virginia State government website includes more information about this energy rebate program at:  www.state.wv.us/taxdiv/.

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