City of Cincinnati residents can now receive up to $750 for energy efficiency improvements they make to their primary residence through a new partnership between the City of Cincinnati and the Greater Cincinnati Energy Alliance.
In order to obtain the incentive, homeowners must first have a Home Energy Assessment performed by an Energy Alliance participating contractor. There is a $1,000 minimum project size that must be met in order to qualify for City of Cincinnati incentives.
City of Forest Park residents can receive up to $750 in incentives for energy efficiency improvements through a partnership between the City of Forest Park and the Greater Cincinnati Energy Alliance.
Homeowners must first have a Home Energy Assessment and use a GC-HELP Whole Home loan to finance their energy efficiency improvements. There is a $1,500 minimum project size that must be met in order to qualify for the incentive.
Butler Rural Electrical Cooperative, Inc.
Butler Rural Electrical Cooperative customers can receive:
Owen Electric offers several efficiency rebate and incentive programs for weatherization, heat pump installation, and direct load control switch to its customers. Owens Electric customers can receive:
Federal Energy Efficiency One Time Tax Credit
The credit applies to energy efficiency improvements in the building envelope of existing homes and for the purchase of high-efficiency heating, cooling and water-heating equipment. The maximum tax credit for all improvements made in 2011, 2012, and 2013 is $500. The cap includes tax credits for any improvements made in any previous year. If a taxpayer claimed $500 or more of these tax credits in any previous year, any purchases made in 2011, 2012, or 2013 will be ineligible for a tax credit.
Claiming the tax credit on your tax forms will require you to complete the Residential Energy Credit Form 5695 when you file your tax return. For additional information on qualifying improvements, visit the ENERGY STAR website.
Federal Residential Renewable Energy Tax Credit
Taxpayers may claim a credit of 30% of qualified expenditures for geothermal heat pumps, solar water-heating, and solar electric systems that serve a dwelling unit located in the United States that is owned and used as a residence by the taxpayer. Expenditures include labor costs for on-site preparation, assembly or original system installation, and for piping or wiring to interconnect a system to the home. If the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year.
Systems must be placed in service before December 31, 2016. Claiming the tax credit on your tax forms will require you to complete the Residential Energy Credit Form 5695 when you file your tax return. For additional information on qualifying improvements, visit the ENERGY STAR website.
Kentucky Energy Efficiency Tax Credit
State tax credits from $100-$250 are available for Kentucky residents on energy efficiency improvements such as insulation, high efficiency furnaces, and air conditioners. The maximum tax credit may not exceed $500 for any combination of qualified measures. View tax credit details and requirements from the Kentucky Department for Energy Development and Independence. New ENERGY STAR homes used as a principal residence are entitled to an $800 tax credit. This credit expires December 31, 2015.