Stay Warm Without Burning a Hole in Your Pocket

By Greg Go on 4 December 2006 comments

As the days get shorter and the wind colder, the heating bill has a way of creeping up. CNN Money offers six ways to shrink that heating bill.

Here are home improvement tips to help you stay warm without being bundled up like an Eskimo all the time.

  1. Clean your furnace filter
  2. Get a programmable thermostat
  3. Take advantage of the sun
  4. Turn down the hot water
  5. Insulate and seal
  6. Upgrade your windows

The really good news is that by doing these things, you get a double bonus. There are tax breaks when you spend on energy efficient products! Keep your home warm with a lower heating bill and get a break from Uncle Sam on the new windows. Nice.

According to an Alliance to Save Energy document, you can get tax credits for buying energy efficient goodies like:

  • Hybrid car or SUV: $650 to $3,150
  • Central air conditioner or heat pump: $300
  • Furnace or boiler: $150
  • Windows: $200
  • Insulation and sealing: $500*

(Note: there is a $500 max on home improvement. Read the rules and talk to your accountant to see how much you can save.)

Be sure to scroll down to the Hybrid car section. Specific credit amounts are listed according to the car year and model. Check out how much your Prius saved you. With gas stuck at expensive and earth-friendly tax breaks in the books, can you really afford to keep driving that gas-guzzling monster SUV? That's so 1997.

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