Depending on eligibility, the
following incentives are available through the Get Energy
Smart Retrofit Program:
A rebate of up to $750 for a
comprehensive home energy audit
A series of rebates totaling up to
$3,000 for
eligible home energy improvements
A loan up to $5,000 in the city of North Port or up to
$10,000 in the Unincorporated County for eligible home
energy improvements
(Income
and location limitations apply).
View a summary of the
available rebate categories and amounts.
Participants should be aware
that the Internal Revenue Service requires reporting of
rebates
as income received. Participants
will be required to submit a W-9 form with their Rebate
Request Form to enable that reporting. Rebates for
ENERGY STAR®
Appliances are exempt from this requirement and will
be subtracted from the annual total rebate amount.
For additional information
on this requirement, please see the Department of
Energy’s
EECBG Program Notice 10-016.
On page two of that notice it states: “Determining the
taxability of a government grant (including a rebate
provided under a government program) depends heavily on
the particular terms of the grant, the type of taxpayer
to whom paid, and whether the law provides a specific
exclusion from income. Grantees should consult their
legal counsel or tax advisor regarding the tax
consequences of particular grants. Alternatively,
grantees may obtain a private letter ruling from the
Internal Revenue Service following the procedures
contained in Revenue Procedure 2010-1, 2010-1 I.R.B. 1.”
To
ensure eligibility for the rebates, it is important to
understand the requirements and specifications for each
energy improvement category before initiating any work.