Clean Energy 101: Rebates vs. Tax Credits

did you know that you can save thousands of dollars on Energy Efficiency upgrades for your home thanks to recent Federal legislation you can save money through rebates and tax credits but what's the difference rebate programs offer upfront discounts that save you money immediately and are managed by your state territory or tribe with rebates products cost less when you buy them for instance with rebates eligible homeowners could save up to $14,000 on improvements to their home's Energy Efficiency including new Windows Doors installation air conditioners heat pumps electrical wiring and more tax credits on the other hand reduce the amount of money you owe on your federal tax return for example if you owe $2,000 on your tax return but claim a $2,000 credit for a new heat pump you'll now owe nothing on your tax return there are multiple clean energy tax credits that you might qualify for and they're administered by the IRS you can remember it this way rebates save you money right now while tax credits save you money on your return later and some people will be eligible for both plus there are other great benefits from these upgrades like reduced monthly energy bills and a more comfortable home for you and your family to learn more about eligible products and how you can save visit www. energy.gov slave save energy save money [Applause]