Residential Tax Credit Residential Tax Credit
The 2009 economic stimulus package, known as The American
Recovery and Reinvestment Act (H.R. 1), has become an invaluable
sales tool in the insulation market. In this notice, we will provide overview information regarding the benefits of the 2009 economic stimulus package that will be extended through 2010. This
stimulus package promises significant cost savings for homeowners along with residential builders, in the
form of tax deductions.
Existing Homes:
By adding insulation to a pre-existing home, owners can receive a
tax credit on the total product purchase price of insulation materials up to $1,500. In order for the tax credit to be applicable the primary goal of the installed insulation should be to insulate, the product must carry
a manufacturer's certification, and the insulation must be expected to last for at least 5 years, or carry a 2 year warranty.
New Home Construction:
Home builders are eligible for a $2,000 tax credit on
new homes. For eligibility as a residential home builder,
the home must achieve 50% energy savings for heating
and cooling over the 2004 International Energy Conservation Code
(IECC) and supplements. Furthermore, at least 1/5
of the energy savings must come from building envelope improvements. Manufactured home builders are eligible
by conforming to Federal Manufactured Home
Construction and Safety Standards.
The Handi brands have been developed to stop air infiltration, add insulation and air seal. Moreover,
our products, when used properly, meet the above
requirements needed to achieve the desired tax credit.
By using foam in attic, crawl space, rim joist, window,
door, and wall cavity applications; the homeowner or
builder can create energy savings as well as receive
the tax credit for installing insulation and sealing
the building envelope.
For further information regarding the energy tax credit, including a copy of the Product's Manufacturer Certification Statement which may be necessary to receive the above mentioned tax credit, please follow
the links below.
http://www.energystar.gov/index.cfm?c=tax_credits.tx_index#c2
http://www.fomo.com/FileUploads/RichTextboxImages/file/mfg%20cert%202.pdf
**Please consult your local tax advisor. | 
