West Virginia’s third, and final, Energy Star Sales Tax Holiday begins today and continues through Nov. 30. The tax-free holiday provides area residents with an opportunity to improve their homes with new energy-efficient products while also helping to lower their long-term energy costs. It also provides a welcomed boost to the economy when more people get out to shop during the tax-free period.
In fact, the sales tax holiday is a win-win for everyone. We would encourage all local residents who can afford to do so to take part, as energy costs in the Mountain State, and across our nation, are expected to continue to increase in the weeks, months and years ahead.
According to Appalachian Power, energy will be cleaner, but not cheaper. During a meeting last week with the Daily Telegraph editorial board, Mark Dempsey, vice president of external affairs for Appalachian Power, said a number of federal benchmarks proposed by the Environmental Protection Agency between now and 2017 will have a cost associated with them.
Dempsey said many of the looming federal regulations will have a significant impact on coal producing states such as West Virginia and Virginia. In West Virginia, the company estimates that 99 percent of all electricity is generated from coal. In Virginia, more than half of the state’s electricity generation comes from coal. Further complicating the region’s energy picture is the looming threat of cap and trade, or climate change legislation, which also could lead to increased energy costs. Although temporarily set aside by lawmakers in Washington, climate change legislation will most likely come up again — perhaps after the November elections.
Like it or not, everyone should start thinking about energy conservation. And there is no better time to purchase energy-efficient products than when they are tax free.
During the three-month period, shoppers will not have to pay the state’s 6 percent sales and use tax on certain Energy Star qualified products with a retail price of $5,000 or less, according to the West Virginia State Tax Department. All West Virginia businesses that sell Energy Star products are required to participate in the sales tax holiday, and most stores are expected to have signs or in-store displays promoting the sales tax holiday.
Items that qualify for the tax-free holiday include clothes washers, dishwashers, refrigerators and freezers, dehumidifiers, programmable thermostats, ceiling fans, air-conditioners and CFL light bulbs, according to a press release from Lowe’s Companies Inc. The company said the energy-efficient products can help significantly reduce energy and water consumption and decrease utility bills throughout the year.
As an example, the company says an Energy Star qualified clothes washer can cut utility bills by an average of $50 per year; and that replacing a refrigerator manufactured prior to 1993 with a new Energy Star-qualified refrigerator can save homeowners more than $55 a year on their energy bills.
We encourage all residents in our region to consider taking advantage of what will apparently be the last Energy Star Sales Tax Holiday in the Mountain State. Energy consumption makes good sense. Purchasing energy efficient products when they are tax free makes even better sense.
As it stands now, energy may be cleaner, but it certainly won’t be cheaper, in our immediate future. However, we can take steps today to lower our monthly and yearly energy bills through the purchase of new energy-efficient products. We have the next 90 days to do so tax free.
Editorials
September 1, 2010
Sales Tax Holiday: Energy efficiency key to lower bills
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