Alternative Energy for the Win

Many aspects of the federal energy tax credit program have already been curtailed, with credits from most common upgrades having expired at the end of 2013 (but it’s not too late to claim the money if you haven’t already — see below). However, there are some credits still active for alternative energy installations. You are eligible for a kickback of up to 30 percent of purchase and installation price come tax time if you made any of the following additions to your existing home or new construction in 2014:

And it’s not just the purchase price of the equipment -- your credit can cover the labor to set up and install your new efficiency devices as well. Qualifying homes must be located in the United States. Heat pumps, wind turbines and solar all are valid for your principle or secondary residence, with no limit on the dollar amount. Fuel cells have more restrictions — they qualify for primary residences only, and have an upper limit of $500 per .5KW of power capacity. Renters are not eligible for the tax credits.

If you didn’t act this year, you have until December 31, 2016 to purchase and install your new equipment and still qualify for the credit.

It’s Not Too Late

And there’s more good news. The NonBusiness Energy Property Credit is still available on the taxes you fill out this year — provided you made the improvements in 2013 or earlier. If you made qualifying upgrades to your HVAC equipment, insulation, roof, water heater, windows, doors or biomass stove, you can claim up to $500 in credits on up to 10 percent of the costs. These credits are limited to upgrades made on existing homes, and each specific installation has a cap:

Installation costs cannot be included for doors, skylights, windows, insulation or roofing. Also note that the $500 limit is over the lifetime of the Property Credit, so if you already claimed $300 in past years, you can only get a maximum of $200 on this year’s tax return, even if you spent much more than that.

How to Claim Your Credits

To claim your credits, fill out Form 5695 with the appropriate information about your expenditures and include it with your other tax paperwork. Don’t forget to hold on to all your receipts and manufacturer’s certification statements so you can back up your claim if the IRS comes knocking on your door.

It’s a win-win situation — you get your tax credit, you can reduce or even eliminate monthly fuel costs, and you can sleep easy knowing that you are doing your part to help the environment by decreasing the nation’s reliance on fossil fuels. If you are considering a major alternative energy installation on your property, contact an expert today to advise you on what your options are and how to get started.

Christmas is upon us again and more than any other time of year, it’s the time of year where people put strain on their electrical system.  The lights on your house and the beautiful decorations you’ve been storing in your attic finally are brought out and plugged in for your friends and neighbors to view and appreciate.  And, of course, the vast majority of homes you visit have at least one Christmas tree.  Since most of these things are electrical, it’s probably not a surprise to you that, as a top Dallas electrician, I start getting a lot of calls this time of year.  Though it’s always nice to have the business with Christmas so close, I thought it’d be great to share with ways to avoid wiring problems with your Christmas decorations this year:

 In general, there are a few important tips that can help you avoid wiring problems.  If your lights look frayed or dangerous, they should always be replaced or repaired before using them, frayed wiring are hazardous.  You should take care that your electrical source is safe before you even begin the installation process.  To avoid the potential for overloads, you should have dedicated circuits installed for your holiday decorations.

Most importantly, you should never try to supply power for your lights without contacting a top Dallas electrician to help you install the necessary equipment and make the necessary safety precautions.  Short cuts are potentially dangerous. I can remember one example where a customer had supplied power to their lights by splicing an extension cord directly into their circuit breaker box!  Even worse, they’d shut the breaker box door, pinching the cabling!  Left unchecked, even if this hadn’t started a fire, damage from a power surge or overload could have easily destroyed their whole breaker, meaning they’d have to spend thousands to repair the damage at the absolute worst time of year!

Image via BusinessWeek

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Lighting tips…

Other Cool Stuff…

This summer, soccer’s about more than just winning games. A group of young innovators have started producing a new kind of soccer ball that can generate and store electrical power when kicked around. This is a huge breakthrough for families who don’t have reliable access to power…Image via EarthTechling

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