German representatives of environmental groups yesterday widely welcomed the news that big businesses were prepared to give the project a backbone for the first time.

“Businesses have finally recognised that renewable energies belong to the future, and in times of economic crisis this also sends out an important signal for economic growth,” said Andree Bohling of Greenpeace.

Torsten Jeworrek, board member of Munich Re, the German re-insurer which is leading the project, said: “We want to found an initiative which over the next two to three years will put concrete measures on the table.” The 400 billion euro investment would be enough to cover 15% of Europe’s electricity requirements, according to Jeworrek.  He added “in technical terms this project can be realised” but stressed in order for it to be sustainable it would have to finance itself in the long-run and be competitive within 10 to 15 years.

Tax Credits for Consumers:
Home Improvements

Tax credits are now available for home improvements:

* must be “placed in service” from January 1, 2009 through December 31, 2010
* must be for taxpayer’s principal residence
* $1,500 is the maximum total amount that can be claimed for all products placed in service in 2009 & 2010 for most home improvements, EXCEPT for geothermal heat pumps, solar water heaters, solar panels, fuel cells, and windmills which are not subject to this cap, and are in effect through 2016
* must have a Manufacturer Certification Statement3 to qualify
* for record keeping, save your receipts and the Manufacturer Certification Statement3
* improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) — use IRS Tax Form 5695 (2009 version) — it will be available late 2009 or early 2010
* If you are building a new home, you can qualify for the tax credit for geothermal heat pumps, photovoltaics, solar water heaters, small wind systems and fuel cells, but not the tax credits for windows, doors, insulation, roofs, HVAC, or non-solar water heaters. More.

SUMMARY OF TAX CREDITS FOR HOMEOWNERS:

Water Heaters Gas, Oil, Propane Water Heater Energy Factor >= 0.82
or a thermal efficiency of at least 90%. 30% of cost, up to $1,5002

Not all ENERGY STAR gas storage and gas condensing water heaters will qualify for the tax credit. All ENERGY STAR gas tankless models will qualify.

All ENERGY STAR gas tankless water heaters will qualify.

View ENERGY STAR criteria.

For a partial list of qualifying products go to the Air Conditioning, Heating, and refrigeration Institute (AHRI) Exit ENERGY STAR
Electric Heat Pump Water Heater Same criteria as ENERGY STAR: Energy Factor >= 2.0 30% of cost, up to $1,5002

All ENERGY STAR electric heat pump water heaters qualify for the tax credit.

Biomass Stove:

Stove which burns biomass fuel to heat a home or heat water.

Thermal efficiency rating of at least 75% as measured using a lower heating value.
30% of cost, up to $1,5002

Geo-Thermal Heat Pump:

Same criteria as ENERGY STAR:

Closed Loop:
EER >= 14.1
COP >= 3.3

Open Loop:
EER >= 16.2
COP >= 3.6

Direct Expansion:
EER >= 15
COP >= 3.5
30% of the cost

All ENERGY STAR geo-thermal heat pumps qualify for the tax credit.

Use IRS Form 5695 PDF Exit ENERGY STAR

Must be “placed into service” before December 31, 2016.

Solar Energy Systems & Solar Water Heating:

At least half of the energy generated by the “qualifying property” must come from the sun. Homeowners may only claim spending on the solar water heating system property, not the entire water heating system of the household.

The credit is not available for expenses for swimming pools or hot tubs.

The water must be used in the dwelling.

The system must be certified by the Solar Rating and Certification Corporation (SRCC).
30% of cost

All ENERGY STAR solar water heaters qualify for the tax credit.

Use IRS Form 5695 PDF Exit ENERGY STAR

Must be placed in service before December 31, 2016.
Photovoltaic Systems Photovoltaic systems must provide electricity for the residence, and must meet applicable fire and electrical code requirement. 30% of cost

Use IRS Form 5695 PDF Exit ENERGY STAR

Must be placed in service before December 31, 2016.

Small Wind Energy Systems Residential & Small Wind Energy Systems 30% of cost:

Use IRS Form 5695 PDF Exit ENERGY STAR

Must be placed in service before December 31, 2016.

Fuel Cells Residential & Fuel Cell and microturbine system:

Efficiency of at least 30% and must have a capacity of at least 0.5 kW.
30% of the cost, up to $1500 per .5 kW of power capacity

Use IRS Form 5695 PDF Exit ENERGY STAR

Must be placed in service before December 31, 2016.
Cars Hybrid gasoline-electric, diesel, battery-electric, alternative fuel, and fuel cell vehicles Based on a formula determined by vehicle weight, technology, and fuel economy compared to base year models

There is a 60,000 vehicle limit per manufacturer before a phase-out period begins. Toyota and Honda have already been phased out. Credit is still available for Ford, GM and Nissan.

For more information visit: Fueleconomy.gov Exit ENERGY STAR

Use IRS Form 8910 PDF Exit ENERGY STAR for hybrid vehicles purchased for personal use.

Use IRS Form 3800 PDF Exit ENERGY STAR for hybrid vehicles purchased for business purposes.

Plug-in hybrid electric vehicles $2,500–$7,500:

The first 250,000 vehicles sold get the full tax credit (then it phases out like the hybrid vehicle tax credits).

Effective January 1, 2009.

¹Either the 2001 Supplement of the 2000 International Energy Conservation Code or the 2004 Supplement of the 2003 International Energy Conservation Code.

²Subject to a $1,500 maximum per homeowner for all improvements combined.

³A Manufacturer’s Certification is a signed statement from the manufacturer certifying that the product or component qualifies for the tax credit. The IRS encourages manufacturers to provide these Certifications on their website to facilitate identification of qualified products. Taxpayers must keep a copy of the certification statement for their records, but do not have to submit a copy with their tax return.

⁴Additional information on exterior window features may be viewed at Anatomy of an Energy Efficient Window.

⁵Biomass Fuel means any plant-derived fuel available on a renewable or recurring basis, including agricultural crops and trees, wood and wood waste and residues (including wood pellets), plants (including aquatic plants), grasses, residues, and fibers.

The IRS defines “placed in service” as when the property is ready and available for use.

Efficient Cars:

Starting January 1, 2009, there is a new tax credit for Plug-in hybrid electric vehicles, starting at $2,500 and capped at $7,500 for cars and trucks (the credit is based on the capacity of the battery system). The first 250,000 vehicles sold get the full tax credit (then it phases out like the hybrid vehicle tax credits).

Tax credits are available to buyers of hybrid gasoline-electric, diesel, battery-electric, alternative fuel, and fuel cell vehicles. The tax credit amount is based on a formula determined by vehicle weight, technology, and fuel economy compared to base year models. These credits are available for vehicles placed in service starting January 1, 2006. For hybrid and diesel vehicles made by each manufacturer, the credit will be phased out over 15 months starting after that manufacturer has sold 60,000 eligible vehicles. For vehicles made by manufacturers that have not reached the end of the phase-out, the credits will end for vehicles placed in service after December 31, 2010. See the IRS Website for updated information.

Eligible contractors need to fill out IRS Form 8908 to get the tax credit. The IRS has provided the following guidance regarding the tax credits for constructing energy efficient new homes available under the Energy Policy Act of 2005:

• IRS Notice 2006–27 provides guidance for the credit for building energy efficient homes other than manufactured homes.
• IRS Notice 2006–28 provides guidance for the credit for building energy efficient manufactured homes.

Home builders are eligible for a $2,000 tax credit for a new energy efficient home that achieves 50% energy savings for heating and cooling over the 2004 International Energy Conservation Code (IECC) and supplements. At least 1/5 of the energy savings must come from building envelope improvements. This credit also applies to contractors of manufactured homes conforming to Federal Manufactured Home Construction and Safety Standards.

There is also a $1,000 tax credit to the producer of a new manufactured home achieving 30% energy savings for heating and cooling over the 2004 IECC and supplements (at least 1/3 of the savings must come from building envelope improvements), or a manufactured home meeting the requirements established by EPA under the ENERGY STAR program.

Please note that, with the exception of the tax credit for an ENERGY STAR qualified manufactured home, these tax credits are not directly linked to ENERGY STAR. Therefore, a builder of an ENERGY STAR qualified home may be eligible for a tax credit but it is not guaranteed.

These tax credits apply to new homes located in the United States whose construction is substantially completed after August 8, 2005 and that are acquired from the eligible contractor for use as a residence from January 1, 2006 through December 31, 2009.

Tax Deductions for Commercial Buildings:

A tax deduction of up to $1.80 per square foot is available to owners or designers of new or existing commercial buildings that save at least 50% of the heating and cooling energy of a building that meets ASHRAE Standard 90.1-2001. Partial deductions of up to $.60 per square foot can be taken for measures affecting any one of three building systems: the building envelope, lighting, or heating and cooling systems. These tax deductions are available for systems “placed in service” from January 1, 2006 through December 31, 2013.

Solar panels can be expensive up front,  however they will add value to your home and make living there a lot cheaper, if you are not planning on moving soon.  There are also many rebates and tax incentives available to install solar power systems to your home.  Maybe think about just installing solar power to your hot water heater, if you are not able to do the whole house.  

Instant hot water heaters are very efficient and easy to install.  Not heating the water until it is going to be used and heating the water closer to your sinks can save a lot of water that would generally go down the drain while waiting for it to get hot.  You also save by not maintaining water temperatures in a traditional hot water heater. 

There are also energy saving wood furnaces and fireplaces  that burn wood pellets,  shelled corn or black sunflower seeds.  These heating devices are automatically fed so the only thing you really have to to is load the pellets in a hopper.  No more chopping wood. The pellets are made from sawdust created at saw mills that would otherwise be thrown away or burned, so it is a very sustainable product.

If you have a swimming pool, then think about placing a couple of pool heating solar panels on your roof, which is another good way to save some money on your power bill.  Standard plug in pool heaters use a lot of energy and if your not swimming in the winter, can be a big waste of money. The roof mounted solar heaters work by themselves and your pool will be warm year round, so if you do decide to take a dip and it’s nippy outside your pool will still be inviting.

Just by adding a few of these green items to your home, you will not only add some equity to your home, but your home will also be more appealing to a person looking for a greener home.  If you are staying in your home, you will notice a decrease in your power bill with the added green technology.  All things considered, making your home a little greener creates  a win-win situation for all.

There are new ways to use green power for your home, business and vehicle.  The Internet is one of the best places to get started on investigating how you can green up your power usage. Here at Green Earth Friend, we also will keep our eyes open for new green technology and post it here for your information. 

Here are some videos so you can see what people are doing with Green Power.

There are people who live off the grid using solar and wind power, hydrogen generators and many more devices that save a lot of money.  We have gathered  four videos that show how individuals and families are living off the grid and saving.  They also share what you can do to get off the grid and go totally green.

Jim, the owner of the Newfoundland company, says that the cans have an excellent heat transfer capability and are a very sustainable material.  The system supplies about 2Kw of heat circulating through your home which will feel warmer than a 2Kw electric heater because the electric heater does not blow air.  The only problem with this heater is that it only works when the sun is out, however when installed during the day it will prevent your conventional heater from running all the time, saving you money and making your wallet happy and green.  Watch the video below to see it in action.

A group of people in Devon, England have gone back to nature and are using a few solar panels. The people are practicing permaculture which maximizes soil use and reduces ecological damage. Permaculture is where you basically blend in with nature and you are linked in with perennial agriculture. They are living as close to nature as the animals in that area.

They are growing plants that are mutually beneficial to the other plants they are growing. It takes about ten people to make the system work and a lot of water. There is no electricity other than solar panels and windmills. They claim that they have reduced there footprint to 33% of the national average and are shooting for 20%.

Their neighbors however are up in arms over the makeshift eco shacks. They built them without planning permission. They have been in court fighting to continue their plight and the court has given them 3 years to prove themselves or get out. They were hoping for 5 years.