DENVER (CBS4) – A Colorado congressman helped extend an energy saving tax credit. The credit expired in 2017, but Rep. Jason Crow got it back on the books for 2020.
The Save Energy Act will allow homeowners to deduct up to $500 on their taxes when they purchase energy efficient improvements for their homes.
“Climate change is a crisis for our planet and rising energy cost are a crisis for our community,” said Rep. Crow. “You don’t have to look any further than Colorado to see the impact bills like these can make. This bill is good for the environment, good for the economy, and good for families. It is as simple as that.”
Crow’s bill was part of a larger government funding bill.
In 2007, Colorado passed a law that required energy companies to create financial incentives for consumers to invest in energy efficient technology. The law is estimated to have created over $1 billion in economic revenue for the state and today tens of thousands of Coloradans work in the energy efficiency field.