April 9, 2009

spend money to make money

Going green is also getting green, not only helping the environment but the economy as well. This form of tax credit gives the average homeowner/ consumer incentive to spend money on environmentally friendly products and get a hefty tax credit in return, some are 30% of the original purchase price. An underling hope, I see, is that this tax credit will stimulate the economy a little on its own.
Since in a recession/ depression consumers normally put off buying durable goods, goods that last more then 3-5 years, these tax credits offer more incentive to not delay with that new purchase. Besides the federal government, the local utility companies also offer a cash rebate for similar energy efficient purchases. In fact Colorado Springs Utilities offers an entire list of cash rebates for Eco friendly home upgrades. http://www.csu.org/residential/rebates/index.html
The rebate money and the tax refund money back in the pockets of consumers may also aid in stimulating more consumer spending, helping the economy eventually turn around. Every little bit helps whether the subject is the economy or the environment or both.

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