Welch pushes tax credit for renewable energy

December 18, 2013 by  
Filed under Green Energy News

RUTLAND, Vt. -

Rep. Peter Welch was in Rutland Tuesday talking about a tax credit he doesn’t want to expire.

The congressman is sponsoring new legislation to extend and improve the tax credit for renewable energy.

Currently people can get a $300 tax credit for installing things like a heat pump in their homes. It expires at the end of the year. Welch is proposing a new $500 credit.

Green Mountain Power says this extension and increase in credit would get more homeowners to go green.

“I’m saving thousands of dollars on fuel every year and the other is I’ve reduced my carbon footprint dramatically because we have high efficiency natural gas generating electricity,” said Bruce Bentley, who has a heat pump.

“For some folks, that extra 200 will make the difference in them deciding if they want to put a significant amount of their own money into it,” said Welch, D-Vermont. “Let’s have government in the private sector cooperate to give homeowners the best option available and they can pick and decide what’s the best way for them to achieve this.”

GMP says the gas pump does increase electric bills a bit, but drops the average person’s fuel bill by $800 a year.

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