One of the forerunners of today’s online networking, the “you’ve got mail” provider AOL (America On Lien), recently interviewed HomeSelfe co-founder Ameeta Jain. The topic at hand was the rebates from the IRS available to homeowners through certain improvements and upgrades made to their houses.
“Many Americans don’t realize that they can write off energy-efficiency upgrades that they’ve made to their home,” advises Jain during the interview. “The IRS has a form 5695 and that’s the one you would use to apply for tax credits.”
Ameeta shares the two types of energy credits available to homeowners when it comes to energy-efficient upgrades:
- Residential Energy Efficiency Property Tax Credit – for homeowners using renewable sources of energy in for their house, like solar power.
- Nonbusiness Energy Property Credit – for newer, more energy efficient windows, doors, skylights, insulation and roofing materials.
The nonbusiness credit also applies to replacing outdated appliances with newer, more energy efficient Energy Star ® models. Jain notes that in some cases, savings uncovered using the HomeSelfe app, the installation or replacement of some of these products could save homeowners as much as 35% in some cases.
An Energy Audit
Jain reminds homeowners that using the free HomeSelfe app, users can perform a DIY energy audit on their house. After answers some simple questions, the app delivers a report that gives a money saving plan on how people can cut down on their utility bills. You can get the free HomeSelfe app from their website, Facebook page or Twitter feed.
To watch the video interview with Ameeta and her host Allyn Hoang, please visit the AOL web site here. The deadline for these rebates has been extended through December of 2016, so you can still be eligible for some of these savings from Uncle Sam.