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'Fiscal Cliff' Deal Offers New Energy Tax Credits

Posted: 3:05 PM Jan 16, 2013
Reporter: Chris Stover

Energy Tax Credits

January 16, 2013

The “fiscal cliff” deal in Washington could bring you big savings, when it comes to home improvements.

Tax credits for energy efficiency improvements ended in 2011, but under the new “Taxpayer Relief Act” those tax credits can be retroactive for 2012.

If you made energy improvements last year, then you can apply for a tax credit and get 10 percent or up to $500 off the bill.

“You start to combine the rebates with the tax credits with the low-interest financing,” says LEAP’s Executive Director Cynthia Adams. “What you find is that you have a very attractive bundle and a very good time in this next year to make these energy improvements.”

The Local Energy Alliance Program (LEAP) says with the energy improvements to your home you can also help yourself in terms of re-sale, since the value of your home will improve.

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