Utah Energy Rebates You Need to Know About
Everyone wants to save a bit of money where they can. As the cost of living continues to rise, finding ways to ease the strain on your budget makes sense. Energy can be one of the more expensive elements of your utility bill, but what if we told you it doesn’t have to be?
There are so many ways to change your energy bill for the better through target programs designed to make your life easier, and we’re going to explain some of them to you! So buckle up, and let’s get into some Utah energy rebates and money-saving programs.
Federal Tax Credits
The federal government has numerous tax credits available primarily if you switch to solar power. However, they do have another tax incentive for tankless water heaters. This incentive offers a once-off $300 tax credit to homeowners who have made sufficient energy-efficient improvements, such as installing a tankless water heater. This tax credit is known as the Nonbusiness Energy Property Tax Credit.
Utah Tax Credits
There are numerous Utah Energy Rebates available to help promote energy efficiency at all times. Most of these look like tax rebates you can receive when you make certain home modifications that push your house towards energy efficiency and sustainability. In the long run, Utah energy rebates are an added reward for actions you take towards better power efficiency, a better home, and increased property value.
Here are a few different home improvement strategies that also leave you eligible for Utah energy rebates on your tax return:
Attic insulation = capped at $0.25 per square foot but can be lower.
Wall insulation = capped at $0.30 per square foot but can be lower.
Duct insulation = $100 (base) plus $5.25 per linear foot.
Air sealing = $100 (base) plus $0.20 per square foot
In-home Energy Audit = discounted to $25.00
Rocky Mountain Power Rebates
The Rocky Mountain Power company offers a specific Utah energy rebates program that is also available in several other states in different iterations. This rebates program is known formally as the WattSmart Multifamily Program. To qualify, you’ll need to make improvements to your home or construction project in the following manner:
Energy-efficient appliances
Energy-efficient building shell
Energy-efficient HVAC
Weatherization
Energy-efficient water heating
Low income (majority of household earns less than 80% of area median income) = $0.30/kWh up to 100% of total project costs.
Market rate (majority of household earns more than 80% of area median income) = $0.25/kWh up to 70% of total project costs
Provo City Power
Provo City Power has recently added a rebate to its services. This new rebate is one of the best Utah energy rebates in existence. This rebate incentivizes residents and businesses to take a look at adding, upgrading, or redoing home/business insulation and changing existing windows for more energy-efficient models.
Attic/ceiling + outside wall insulation = $0.10/sq ft. - $0.25/sq ft.
Replacement Windows = $0.50/ sq ft.
Subject to additional rebates and incentives through federal tax credit programs and Questar.
Solar
Solar power is becoming a huge player in rebates as everyone tries to green up their states, cities, and communities in order to produce clean energy. As a result, some unique rebates come with this home investment on both the federal and state level. Here are some of the rebates you can get in return for installing solar power sources in your home:
Renewable Energy Systems Tax Credit
The Utah Renewable Energy Systems Tax Credit allows for credits towards the following calendar year's income taxes if you install a solar panel system in your home. With a big push to make Utah and America greener, the concept is to make going green more accessible and cheaper.
You can claim 25% of the total installation and equipment costs up to the amount of $1600. But, the good news is that it doesn’t end there! This is in addition to the following tax credit we’ll discuss, the Federal Solar Tax Credit. However, it’s important to note that this Utah energy rebates program actually expires this year!
The Federal Solar Tax Credit
The federal government is adamant that now is the time to go green, better late than never. So they’ve made it easier to do so by offering an additional tax credit to make solar more affordable. This isn’t a Utah energy rebates credit, so anyone from any state can claim this tax credit.
The Investment Tax Credit (ITC) means you can reduce the overall cost of a PV solar energy system by an impressive 26%. There are rules to this tax credit, as there is with every government program, and these rules are:
Must be bought outright either through a ‘cash’ purchase or using a solar loan.
Must have sufficient income for the tax credit to, in fact, be meaningful.
Net Metering
This is probably our favorite rebate associated with solar. This isn’t a Utah energy rebates program run through the state but is instead run through the individual power companies. Rocky Mountain Power has the best net metering program by far in the state. Essentially what happens is considering you’re no longer relying on the grid for electricity, that doesn’t mean you’re excluded from the grid in its entirety. Instead, you can sell off excess electricity produced by your solar system back to the grid and get credits on your electricity bill.
Beyond just initial tax credits, there are a ton of ways to reduce your overall energy bill. We’ve figured out a wide range of steps you can take to improve energy consumption in your home. We detail all our findings in this handy little blog post all about Energy Conservation Techniques for your Utah home!
Conclusion
There are many ways you can make your home more energy-efficient both economically and operationally. Some options include cleaning your air ducts, cleaning and changing filters, maintaining a healthy furnace, and choosing energy-efficient products such as air conditioners.
The important thing to remember is that most of these programs are all about conserving energy just as much as they’re about efficiency. As a result of becoming more energy-efficient, you’ll also end up saving money on your overall energy bill. These Utah energy rebates are great, but that reduced number on the energy bill every month is going to be a game-changer.
At Crystal Clean Vents, we’ve prided ourselves in years of quality service to people all across the great state of Utah, ensuring their home or business is in the best position to produce clean air. So if you require our quality assured services, let’s chat about what we can do for you!