Sunday, January 6, 2013

Alabama State and Federal Energy Efiiciency Tax Credits

Alabama vs. Arkansas by DiamonddusteAlabama State and Federal Energy Efficiency Tax Credits
If you live in the state of Alabama there are a number of options for you as far as Tax Credits for energy efficiency as well as grants and loans to make your home or business more energy efficient. The following are just a few of the different programs available in Alabama.

TVA Green Power Providers- This program is designed to be an incentive for customers to produce their own power through the use of solar, wind, or hydroelectric power sources. What the program does is pays you a $1000.00 payment up front when the project is installed. Then for 10 years after that the TVA will purchase any electricity you make at a premium rate of  $.09 per kilowatt hour for photovoltaic and $.03 per kilowatt hour for any other source. So to me the best choice will be solar panels. Then for the next ten years TVA will purchase your power at the normal rate. I think this TVA Green Power Providers Program is a very good program if you are thinking of going solar anyway. The thousand dollars up front is a pretty good incentive
Contact Tennessee Valley Authority

Geothermal Heat Pump Loan Program- This program is through the TVA as well and it's a Loan Program to purchase a Geothermal Heat Pump with a cost up to $10,000 dollars. This loan term will be for 10 years and the interest rate will be 6 - 8% and repayment will be through the customers electricity bill. So on this one the question will be will the heat pump save you enough money to pay off the loan on the heat pump. It really depends on how much heating you do currently.
Contact Tennessee Valley Authority

Alabama Water Heater Rebate Program-This one is a simple rebate program. If you put in a new water heater that is Highly energy efficient you should get a 50 Dollar rebate. So you should apply for the rebate as soon as you buy and install your new high efficiency water heater.
Contact Tennessee Valley Authority 865-232-2101
Alabama vs. Arkansas, a photo by Diamondduste on Flickr.

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