Texas Electric: Get Federal Tax Credit for Making Energy Efficient Home Improvements in 2010

The federal government is going all out with its green energy initiatives. One of the ways it’s doing this is by incentivizing the program, ie, giving tax credits to homeowners for making their homes more energy efficient. Following is an overview of one such program for the year 2010 that can help Texas electric customers.

FAQs: How to Get Federal Tax Credits for Energy-Efficient Home Improvements Made in 2010

How do I get the tax credit? Basically, you have to make the improvement/purchase qualifying products and “place them in service” during the year 2010. You then claim the tax credit when you file your taxes next year.

How much of a tax credit can I get? The maximum amount is $1,500. The credit is 30% of cost. So in essence you get to spend $5,000 and get a credit for 30% of this.

Does this apply to products/improvements I make on my rental and/or vacation properties too? No, it must be your primary residence.

 

Which products/renovations qualify for the tax credit? Following is a partial list. Consult the Energy Star website for full details.

Windows and doors; insulation, metal and asphalt roofs, HVAC (including air conditions, heat pumps, furnaces and boilers; water heaters; and biomass stoves.

How to Lower Your Texas Electric Bill for $0

Don’t have any money to spend on energy-efficient home improvements? It’s okay; you can still save on your electric bill. How? By doing some comparison Texas electric company shopping.

Traditional Texas energy providers offer a host of money-saving options for budget-conscious consumers, eg, the LITE-UP Texas program. With this program, you can save money on your energy bill five months out the year (May through September)? And, it’s a no-deposit electric service plan.

Plans like this are ideal for consumers who are currently on prepaid electric service plans because they can significantly lower your energy bill during the five most high-consumption months of the year. And it needn’t cost a dime. All you have to do is call your Texas electricity company to get full qualifying details

August 2009 Dallas Electricity Rate Comparison

Today is August 14 2009 and we have gone out to the power to choose website to check on electricity rates from companies like Champion, Startex, Green Mountain Energy, Spark Energy, TXU, Ambit, Stream, Bounce, Texas Power and Reliant Energy.  We checked on some other Texas electricity providers but these energy companies provide a good overall comparison of rates. We have sorted the electricity rates  in order from cheapest to most expensive using the pricing available on the Power to Choose website.

Startex Power, Champion, and Green Mountain Energy, are some of the more popular electricity companies we recommend and Startex and Champion are currently offering some of the cheapest available electricity plans in the Dallas Texas area. There are no hidden fees or charges with Startex or Champion. If you use below 500 kWh per month than a $4.95 monthly service fee will kick in with Startex Power but other than that you are going to be good with the top two cheapest Dallas electricity plans in the chart.

This chart above is a historical snapshot of what Dallas residential electricity rates looked like for the month and day of August 14 2009. These charts sometimes help in determining the track record of a Texas electricity companies overall consistent performance in delivering a low cost electricity price to Texas energy consumers. To see a current comparison of our recommended electricity companies in Dallas Texas please click on our Dallas electricity comparison link by clicking here.

No Deposit Residential Texas Electric Company

There are Low and No Deposit Options Available in Texas

We recommend you use the compare tool at the top right to see what prepaid options are available in your area. Once you compare the providers you can order service online.

For energy customers who have bad credit or just no established credit you may have found yourself being asked for a very large deposit to have electric service in Texas turned on in your name. This has been an issue facing many Texas energy consumers for some time as most electric providers in Texas do not offer a flexible electricity service rate plan for those with bad credit or no established credit. When an energy consumer signs up for electric service with bad credit the deposit requirement asked for by an electricity company can be anywhere from $150 – $1500 depending on the electric provider and the credit score. To avoid this type of deposit issue you can choose an energy supplier that has a low or no deposit electric plan. The provider we recommend above all other low or no deposit electric companies is Bounce Energy. Bounce Electric Company once offered a Fresh Start Plan that allowed a low credit score energy service customer to sign up with them at a slightly higher rate than their normal low cost rate. You remained on this higher rate for 3 months and proved to Bounce Energy that you could pay your electric bill on time and they would proactively lower your electric rate to their normal cheap electricity rate plan. This allowed you to quickly sign up for electric service at a home or apartment without having to worry about how you will come up with up to $1500 to pay a deposit requirement. Most people do not have this kind of extra cash on hand, especially for a deposit you will not receive back until your contract ends. Unfortunately their guaranteed no deposit plan is no longer available although they still have alternative plans that may get your lights turned on with no deposit required or at a low deposit cheaper than most electricity providers require.

Who is Bounce Energy

Bounce Energy is a new electric provider in Texas that was started by a seasoned software director and overall customer experience project leader at a large online marketing and back office electric service customer tracking company. Because of the extensive knowledge this company has on how to sign up electric customers, capital requirements needed to continue signing up energy customers, the ability to bill accurately and timely, and the overall customer satisfication points to consider when working to keep and renew current electric service customers in Texas makes this new electric provider one of the best new energy companies to work with. We are confident that you will find their electric rate, flexible energy agreements and overall abilities to make your customer experience enjoyable that we want to recommend their Guaranteed No Deposit Electric Rate plan as the preferred No Deposit option for customers in a credit crunch.

 

Bounce Energy

Type in your zip code to the right and compare Bounce Energy with multiple Texas electric companies in your area. All fees and charges are bundled into the electric rates to give you a clear apples to apples comparison.


Check Low and No Deposit Electricity Plans and Rates

Software Director at Whitefence starts a New Electric Company

A new Texas electric provider that has been appearing in advertising on google’s ad network as well as on the power to choose website is a company by the name of Bounce Energy. This electric provider is located at 2802 Albany in Houston Texas. They started business in Texas May 2008. Robbie Wright is the Director of Bounce Energy and was previously the Senior Vice President of customer experience at WhiteFence. From his work background he appears to have been involved in their software side of the business in large part considering their business model is based almost completely on online sign ups for essential utility services. Robbie still acts as a consultant for WhiteFence which is a company that works with several electric companies in controlling their electric service sign ups on the internet.

New Electric Provider in Texas

After having a succesfull run at Whitefence Robbie has ventured into starting a bonafied retail electric provider in Texas and with a history in the software mechanisms that organize and keep track of electric service customers this may be the right fit for him in this competitive market. Since Bounce Energy is less then a year old we do not have very much information available as far as their ability to provide accurate timely billing and historically low fixed electric rates. We wish Bounce Energy well in their new business venture in the retail electric market and are interested to see how they compare to other Texas electric rates.

You can compare electricity rates from Bounce Energy with several other Texas electricity companies competing for your residential electric service business.

Would you like to learn about other Energy providers?
Spark Energy
Champion Energy
Ambit Energy
Startex Power
Affordable Energy

Blu Power of Texas, Letting Customers Go

Other No Deposit Guaranteed Electric Providers

Since Blu Power closed down in Texas we recommend other electric companies for those needing to avoid a deposit. Blu Power sold pre-paid electric service although there is now an electric provider in Texas that will allow you to sign with a no deposit or low deposit depending on your credit. The plan was called the “Fresh Start Plan” but that plan has been discontinued. We compare several prepaid providers using our compare tool at the top right. You can use it right now to find a provider that will work with your credit situation.

5 Texas Energy Companies out of Business in Texas

Another electric company in Texas were hit by the index market skyrocketing prices when they couldn’t afford the wholesale market financial requirements. The MCPE market spiked and they were not able to afford to keep their customers. They have started the process of letting all 2,000 of their customers go who are primarily Texas prepaid electric service customers. These Blu Power Customers will be getting back any money owed to them by Blu Power of Texas according to the electric company. Blu Power has said that many of their customers owe them money then they who owe their customers.

When Will it End?

With this now being electric company number 5 now out of the electric business you begin to wonder when this going out of business thing is going to stop? How many other small electric companies got into this business over their head? Some of the Texas electric companies came into the Texas market without a good understanding about just how volatile the Texas energy market is as well as what kind of capital investment you need as leverage against the hottest summer and the coldest winter to continue to stay in business.

Blu Power Electric Service Customers

If you are a Blu Power Electric customer we recommend checking out some of the discount electric rate offers we have at the top left of this page. If you have any questions please feel free to give Electricity Bid a call at 817-929-7095. Further questions can be answered by the PUCT (Public Utility Commission of Texas). Some of the other providers that have gone out of business in Texas for similar related issues are, National Power Company and Riverway Power.

Electricity Bid helps you find an electric rate and provider to save you money and keep life simple.

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