According to the U.S. Department of Energy (DOE), the average annual utility bill in the United States is currently $1,767, and energy costs are expected to continue to rise over the next few years. But the financial burden of high monthly utility bills is only one part of the challenge of energy production in America. Energy independence is rapidly becoming a priority since it offers great opportunities in the areas of job creation, manufacturing and environmental preservation.

The DOE has determined that energy conservation is the cheapest, cleanest and fastest way to reduce the environmental impact of energy production and improve national energy security.

The American Recovery and Reinvestment Act of 2009 (ARRA) was signed into law in February of 2009 and is an economic stimulus package meant to create jobs and jump-start the American economy. As well as providing funding across a number of industries -- including health care, agriculture, and education -- the ARRA has allocated a significant amount of money for energy conservation and renewable energy production. To help get the nation working towards serious conservation, the bill allocates more than $40 billion to energy-related issues. Some of this funding will specifically address the new and existing housing industry by providing tax credits, rebates, and incentives to home buyers, homeowners and builders.

Builders, re modelers, home owners and home buyers can all take advantage of sizable financial rewards by investing in energy efficiency such as photovoltaic's, wind power, solar water heating and more, but only if they understand how the incentives work and how to access them. (It's also worth noting that before beginning an energy upgrade, an energy audit and energy tracking analysis will help determine the most cost-effective places to begin.)

Understanding the expanded tax credits, how to utilize rebates and utilize loan programs, and how to keep abreast of changes at the state and local level -- which may add new incentives as the ARRA is implemented in the upcoming months -- will all help greatly with making informed purchasing decisions. Stay tuned for more information on energy incentives.

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