Homeowners Need Incentives For Energy Improvements
April 30th, 2012If a recent national poll is any indication, home energy improvements stand to take a big hit in the coming year. The survey released last week by the Shelton Group, indicates federal energy saving incentives and rebates were the primary motivating factor behind Americans decisions to make energy efficiency changes to their homes. Now with incentives and rebates coming to an end the expected outcome is less spending in that direction as American tighten their belts once more to deal with rising gas prices at the pumps.
This news comes just as many of these federal incentives are set to expire and the incentive budget has been slashed.
Each year Shelton Group conducts four national polls examining the state of power in the United States and how consumers are saving electricity and why. The February 7th poll revealed 23% of Americans received a rebate or financial incentive for home energy efficiency improvements. 25% said they would not have made the changes without the incentives. So you can see by these numbers once incentives have been slashed naturally this will reflect a decline in energy saving spending by Americans.
“At a time when money is tight for all Americans, this survey reveals just how valuable and motivating these incentives are,” says Jeffrey Mayer, President and CEO of MXenergy, a leading independent energy provider. “I believe most Americans want to make efficiency changes and improvements. For many people, the rebates and incentives may make the difference between their ability to make changes or being forced to stay with the status quo.”
The new tax law dramatically reduces incentives on many improvements from 30% of cost to 10%. It also lowers caps on many improvements as well. This will have a devastating effect on energy saving improvements being made to homes since the write offs that were once available are no longer in existence or are far less rewarding than before. As much as some homes need the upgrades to make them energy efficient many home owners simply cannot afford to make the investments without government incentives.
“This does not mean homeowners should abandon their efficiency improvement plans,” continues Mayer. “What it does represent is a call for all of us in the energy business, from utilities to retailers and manufacturers, to look at what new and creative incentives we can provide to help consumers in this process.” Mayer is very passionate about energy conservation as well as green energy and anything that is oriented towards renewable energy which he believes is the future, as well as the correct direction for energy companies to take. MXenergy has therefore started several initiatives in this direction. MXenergy Wizard is a site that was started for the purpose of offering energy audits to businesses as well as home owners, and MXearth is an initiative that sells carbon offsets allowing individuals to become carbon neutral.
Among the most common energy improvements, according to the Shelton Group poll, were replacing incandescent bulbs, adding sealing, caulking and weather stripping, adding insulation and purchasing ENERGY STAR appliances.
Author Bio: For MXenergy initiatives on preserving energy and on how to become carbon neutral MXenergy can offer you information on both as well as offering you MXenergy Promotional rates on natural gas as well as electricity in Georgia as well as 15 other deregulated states.