5 Ways to Get Federal Funds for Going Green

The U.S. government will pay you for taking measures to help the environment. Find out five ways to cash in.

By Kathryn Hawkins. Posted on July 19 2010

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You’d like to be more eco-conscious, but green technology can be pricy, and despite your best intentions, you’re just not sure it’s in the budget. But as it turns out, you may be able to get funding for being eco-friendly right from the U.S. Treasury. Here are five ways to go green that the government will help foot the bill for.

30% of a solar-power system for your home. This perk has been available for a while, but tax credit for solar-power systems used to be capped at just $2,000—barely enough to make a difference on a typical $40,000 model. Now, the cap has been removed, so you’ll get big savings when you buy.

30% of a solar hot water heater. This rooftop box captures heat from the sun to warm water for your sink and bathtub, and once again, the Feds are chipping in 30% to make sure you can have a hot shower any time you like, guilt-free.

30% of a small wind turbine system. If your local zoning laws allow it, you could build a wind turbine to provide electricity to your house for about $40,000. Minus the government tax credit, you could end up with big savings over the course of your time in the home.

$7,500 towards an electric car. At the end of the year, Chevy’s introducing the Volt, which can run for 40 miles on a single electric charge. The price will be around $35,000, but the government’s tax credit will make it more affordable to eco-minded drivers.

Up to $1,500 towards green home improvements. If you’re adding energy-efficient roofs, windows, doors, insulation, or heating and cooling equipment to your house, the government will cover 30% of the costs up to $1,500 for purchases made through the end of the year.

See all eight ways the government will pay at Kiplinger.

Filed under: Green,

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