You have probably heard about Cash For Clunkers by now. There are a number of specific rules, but basically you will get a $3,500-$4,500 credit for trading in your old car and buying a new one. This is a great opportunity if you need a new car, but it is a shame this credit receives more publicity than the renewable energy tax credits and incentives currently in place. For example…you could install a new solar hot water heater on your Maryland home and get up to $6,000 in tax incentives depending on the size and cost of your new solar water heater. Plus you will get free hot water for 30+ years. Let’s take a look…

Cash For Clunkers

$4,500 Credits + Having to pay for gas ($3, $4, $5+ per gallon) and maintenance for 30 years (if it lasts that long).

or…

Cash For Solar Water Heaters

$6,000 in Solar Tax Incentives + Increased home value + Free hot water for 30+ years + Reduced CO2 emissions.

It’s up to you.