Tax credits are available for home energy efficiency, solar energy, passenger vehicles and fuel cells. On Oct. 3, 2008, the President signed into law legislation to extend many of the Energy Efficiency Tax Incentives first enacted in 2005 but that expired at the end of 2007 or that were scheduled to expire at the end of 2008.  The bill also includes extensions of a variety of renewable energy tax incentives.  The energy efficiency provisions include:

• An extension of the commercial buildings tax deduction to the end of 2013.
• An extension of the tax credit for efficient furnaces, boilers, air conditioners, water heaters and insulation and window upgrades to existing homes (covering improvements installed in 2009, but not 2008).
• A one-year extension of the new energy-efficient home tax credit, to the end of 2009.
• Three-years of manufacturer tax credits for sales of high-efficiency refrigerators, clothes washers, dishwashers, and dehumidifiers (2008-2010).
• A new tax credit for plug-in hybrid vehicles purchased starting in 2008 and extending until shortly after the number of qualifying vehicles reaches 250,000.
• A new 10% investment tax credit for combined heat and power systems (through 2016).
• An extension of fuel cell and microturbine credits to the end of 2016.
• Accelerated depreciation for smart meters and smart grid systems.
• Extension of an existing bonding program for green buildings and sustainable design, and establishment of a new energy conservation bond program that would help local and state governments to fund energy conservation efforts.

The bill pays for these provisions by restricting several oil and gas industry tax breaks, and tightening some provisions on the sale of stocks. Specific updates can be found at http://www.energytaxincentives.org/.

For more information, see these links:

•  ACEEE's National Energy Policy Web site
•  The Energy Policy Act of 2005 (energy-efficiency tax incentives are Sections 1331—1341, beginning on pg. 427)
•  Energy Bill information from the Alliance to Save Energy
•  Federal Incentives for Renewables and Efficiency 
•  Colorado Incentives for Renewables and Efficiency

Efficiency Rebates. Check with your utility to see if they offer rebates for upgrading equipment, appliances, lighting or sealing air leaks in your home.

Solar Energy Rebates. Due to the passage of Amendment 37 in Colorado (2004), some utilities are offering significant rebates for solar electric (PV) systems. To learn what rebates are available in your area, visit your utility's website.

Xcel Energy Renewable website
Colorado Springs Utilities Efficiency & Solar website