Homeowners may be passing up energy efficiency tax credits

Homeowners may be passing up energy efficiency tax credits
South Dakotans may be passing up hundreds of dollars in tax credits, according to the South Dakota Public Utilities Commission. Homeowners can earn up to $500 for qualified energy efficiency improvements made in 2006 and 2007, but the PUC believes that many consumers are not aware of the tax credits established by the Energy Policy Act of 2005.

"Very few of the homeowners we talk to realize that they can earn $300 by purchasing a high efficiency water heater, furnace or heat pump," said PUC Chairman Dusty Johnson. "Energy efficient products are a good buy even without these incentives, but when you add a few hundred dollars to the equation, they make even more sense."

The law also provides to homeowners a 10 percent credit for buying qualified energy efficiency improvements including the insulation, reflective metal roofs, insulated exterior doors and energy-efficient exterior windows and skylights. Given the weather in South Dakota, those investments can increase comfort and save homeowners significant amounts of money.


"Here in South Dakota, where we have extreme temperatures at both ends of the thermometer, it is essential that homes have adequate insulation," said PUC Vice Chairman Gary Hanson. "I, personally, have made these improvements to my own home and immediately recognized a difference in the comfort level and saw the hard evidence in lower energy bills," he stated.

"We have not heard from many homeowners that they are taking advantage of these opportunities," commented PUC Commissioner Steve Kolbeck. "We recommend anyone thinking about making investments to their home should take a look at these credits. There are guidelines homeowners must follow in order to receive the tax credit, but they are relatively simple," he concluded.

Tax incentives are also available for new home builders and commercial building owners. Consumers and business owners should consult their tax professional before making any investments for tax credit purposes.

South Dakotans interested in these tax credits should visit the PUC Web site at www.puc.sd.gov and click on the "Energy Efficiency Tax Incentives" link on the home page for more information.

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