S: Is for Sustainable savings running out!

The clock is ticking for clean energy. The federal tax credits that support investments in wind and solar power are about to expire. If you made improvements to your home in 2007 to make it more energy efficient, you may be eligible for a tax credit. The Energy Policy Act of 2005 encouraged homeowners to invest in cleaner technology and energy efficiency by offering credits of up to $500 for qualified insulation, replacement windows and doors, water heaters, and certain high efficiency heating and cooling equipment. Tax credits, unlike tax deductions, are as good as a rebate. But the home improvements tax credit expired at the end of 2007. Despite soaring energy costs and concerns about global warming, the Senate has failed to pass legislation to extend the incentives. Proposed incentives would save at least $50 billion and would reduce carbon dioxide emissions by 67 million metric tons. There's still time to install a solar energy system this year and claim a tax credit in 2009. You can get back 30 percent of the cost of qualified solar water heating and photovoltaic systems, up to $2000, until the end of 2008. The credit applies to second homes too. You may also be eligible for rebates or other incentives from your state when you make energy-related improvements to your home. For state-by-state details, see http://www.dsireusa.org/ and learn more about qualified products and credits on the Energy Star website. If you've got a new hybrid parked in the driveway, don't forget to claim your tax credit. The alternative motor vehicle credit is available for certain hybrid, alternative fuel, and fuel cell vehicles purchased new in 2007 for business or personal use. Check with your accountant or the IRS website for full details on these tax credits. We need to keep an eye on the Senate as they vote on the clean energy tax packages. New legislation enacted in January will reward builders with tax credits for improving the energy efficiency of new homes. Did you know the average American home loses between 10 percent and 50 percent of its energy due to inadequate insulation and inefficient lighting and appliances. The biggest challenge may be getting builders both large and small to consider installing more energy-efficient, yet pricier products and systems. "A high-performance window is more expensive. A higher performing wall system is more expensive. Some believe the tax credits will help. The clean power industry has been a bright spot in our economy, providing jobs, relief from skyrocketing energy prices and solutions to the climate crisis.

It is a F.A.C.T that everything now costs more, but it is also a F.A.C.T. in the long run that solar energy can sustain the planet and that is a F.A.C.T. that makes sense.