You may want to take advantage of the federal tax credit, which is set to last through the end of 2010. The credit is equal to 30 percent up to $1,500 of equipment and installation costs for several energy efficiency measures including 95 percent efficient furnace installations.

Other eligible improvements include water heaters, air conditioners, roofing, insulation and more. To find out how you can maximize this tax credit to make your Memphis home more energy efficient, check out our online energy audit tool.