Nashville Energy Works (NEW) is a partnership between the Mayor’s Office, TVA, and NES to provide incentives to Nashville residents who make energy-saving improvements to their homes.
A homeowner participating in NEW receives the following benefits, including up to $1,000 in financial incentives:
- An in-home energy evaluation by a trained energy advisor and a customized energy action plan that sets out specific energy improvement measures alongside the projected energy savings associated with those measures. The evaluation fee is $150, which will be refunded when homeowners complete their energy action plans.
- Up to $700 in rebates for completing qualifying home energy improvements.
- $50 off a homeowner’s NES bill for up to six (6) months ($300) when homeowners complete their improvements as part of a team.
- Lower monthly utility bills and a more comfortable home.
Federal tax credits up to $500 are available for homeowner’s to claim until the end of the year, but you better hurry. Congress has yet to renew the tax credits for 2012.
“Making efficiency improvements this year will lower home energy bills and improve home comfort for years to come, while also reducing 2011 federal income tax bills,” Kateri Callahan, president of the Alliance to Save Energy, said in a statement.
The allowance for the tax credits that homeowners may be eligible for include:
- $300 for electric heat pump water heaters, electric heat pumps, central air conditioners, biomass stoves, and natural gas, propane, or oil water heaters.
- $150 for natural gas, propane, oil furnace, or hot water boilers.
- $50 for advanced main air circulating fans.
- 10% of the cost of insulation and sealing materials, exterior doors and certain types of energy efficient roofs.
- 10% of the cost, up to $200, of exterior windows or skylights.
For more information about applying for these tax credits and what projects are eligible, visit the Alliance to Save Energy web site. Tax credit information originally featured on Styled Staged & Sold blog by REALTOR® Magazine.