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David Miller, MS, CFP®, CRPC®
Financial Advisor
CA Insurance Lic. #0G61348
Prudential Advisors
1706 Plum Lane, Suite 128
Redlands, CA 92374
Phone: 909-709-9978
Email: david.miller@prudential.com
July/August 2024
Saving on Energy Costs
If energy costs take a significant bite out of your monthly budget, there are steps you can take to lower them. Here are some ideas.
Lower or raise your thermostat.
Adjusting your house temperature by just a few degrees can make a difference.Install a programmable thermostat.
Smart thermostats allow you to program and control heating and cooling settings using an app or a voice-controlled device.Insulate.
Apply caulking and weather stripping to windows and doors, and add insulation to your home.Get a home energy audit.
A professional auditor will assess your home’s energy efficiency and identify areas for improvement.Energy Efficient Home Improvement Credit.
By replacing old furnaces, air conditioners, and water heaters with energy-efficient equipment, you may be eligible for a credit of up to 30% ($1,200 maximum) of the cost of new qualifying items. The credit is taken on your income tax return.Residential Clean Energy Property Credit.
A credit of 30% of the cost of equipment is available until 2032 for the installation of solar panels, solar water heaters, geothermal heat pumps, wind turbines, fuel cells, and battery storage technology. More information about these credits is available at www.irs.gov/credits-deductions/homeenergy-tax-credits.
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