Connect with us

Hi, what are you looking for?


Green Tax Credits: Tax Incentives for Energy-Efficient Systems

Green Tax Credits [Photo: Engineered Tax Services]
Green Tax Credits [Photo: Engineered Tax Services]

A survey says Americans generally are in favor of the Green Tax Credits as a reward for taxpayers. In this article, read and find out how these tax credits are used as incentives for energy-efficient systems!

Green Tax Credits [Photo: Dreamstime]

Green Tax Credits [Photo: Dreamstime]

From December 6 to 8, 2022, The Harris Poll conducted a survey online that revealed that Americans are generally in favor of the Green Tax Credits. These tax credits are rewards that taxpayers are given for purchasing energy-efficient systems.

According to Marder, around 81% or 4 out of 5 Americans believe that tax filers should receive Green Tax Credits if they install alternative energy-efficient systems in their houses. In addition, around 58% or 3 out of 5 Americans state that being rewarded with these tax credits for purchasing an energy-efficient vehicle will encourage them to get on with the purchase.

READ ALSO: Newsbreak: Hawaii Offers $500 Rebate For E-Bike And Moped Purchases, Boosting Green Energy!

What are Green Tax Credits

An article on the Deloitte website states that several individuals and businesses are making an effort to help protect the environment and preserve natural resources by “going green”. This is because high utility costs can significantly reduce the profits of a business, especially those that operate on a low profit margin.

Investing in renewable energy has the possibility to reduce a business’ utility expenses mainly by consuming energy from sources on site. The many forms of renewable energy include solar, wind, geothermal, hydroelectric, hydrogen fuel cells, and biomass. The U.S. federal and several state governments are aware of the environmental, economic, and political value of advancing renewable energy. Therefore, they have created the Green Tax Credits as incentives to encourage individuals and businesses to invest in renewable energy.

READ ALSO: Here Are Things To Know About Tax Credits

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *