January 1st marked the end of some attractive tax breaks for homeowners who sought to make their homes more energy efficient.

While there certainly were perks for taxpayers, the $858 billion tax bill signed by President Barack Obama in December extended but dramatically cut the dollar amount of tax credits available for energy-efficient home retrofits.

Instead of the maximum tax credit of 30 percent of a project, or up to $1,500, the 2011 credit is 10 percent of a project, or no more than $500. Other restrictions apply, too, like a flat $200 limit for new windows and a $300 limit for the installation of a new water heater. There’s an additional piece of bad news for consumers who were making energy improvements to their homes in phases: Homeowners who already took advantage of the program aren’t eligible for another tax credit.
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New York City’s iconic Empire State Building, once the world’s tallest building, has been undergoing a multi-million dollar green renovation that will now extend to the power that’s used by the 102-story Art deco landmark’s tenants.

Malkin Holdings, which operates and maintains the 2.85 million square-foot office building has announced it will buy 100 percent of its power from a wind farm owned by Green Mountain Energy Company.

“It was a natural fit for us to combine 100 percent clean energy with our nearly completed, groundbreaking energy efficiency retrofit work,” said Anthony E. Malkin, President of Malkin Holdings, which runs the building, said in the announcement.

“Clean energy and our nearly 40% reduced consumption of watts and BTUs gives us a competitive advantage in attracting the best credit tenants at the best rents,” he said.

The two-year contract for 55 million kWh of renewable energy annually will prevent nearly 100 million pounds of carbon dioxide emissions each year, the firm said.

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