Energy Efficient Spray Foam Insulation Tax Credits
The Energy Policy Act of 2005, The Emergency Economic Stabilization Act of 2008, and The American Recovery and Reinvestment Tax Act of 2009
On December 17, 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This law extends the tax credits for energy efficiency into 2011, BUT at lower levels. The levels revert back to those in effect in 2006 and 2007, which were 10% of the cost of the improvement, up to $500.
Home Improvement Tax Credit
This tax credit is available for consumers who are improving the conditions of their principle residence. In order to qualify for the tax credit the home owner must have the improvements done between January 1, 2011 and December 31, 2011. For insulation the home owner can qualify for 10% of cost up to $500. With this tax credit you must have a copy of the manufacturers certification statement on hand at the end of the year. You can find more information on all of the credits at http://www.energystar.gov/index.cfm?c=products.pr_tax_credits#sl
Tax Credit for Home Builders
The Tax Credit for Home Builders expires on December 31, 2011. Home builders are eligible for a $2,000 tax credit for a new energy efficient home that achieves 50% energy savings for heating and cooling over the 2004 International Energy Conservation Code (IECC) and supplements. At least 1/5 of the energy savings has to come from building envelope improvements. This credit also applies to contractors of manufactured homes conforming to Federal Manufactured Home Construction and Safety Standards.
There is also a $1,000 tax credit to the producer of a new manufactured home achieving 30% energy savings for heating and cooling over the 2004 IECC and supplements (at least 1/3 of the savings had to come from building envelope improvements), or a manufactured home meeting the ENERGY STAR requirements.
http://www.energystar.gov/index.cfm?c=tax_credits.tx_hm_builders
Tax Deductions for Commercial Buildings
A tax deduction of up to $1.80 per square foot is available to owners or designers of new or existing commercial buildings that save at least 50% of the heating and cooling energy of a building that meets ASHRAE Standard 90.1-2001. Partial deductions of up to $.60 per square foot can be taken for measures affecting any one of three building systems: the building envelope, lighting, or heating and cooling systems. These tax deductions are available for systems placed in service from January 1, 2006 through December 31, 2013. You can find more information at http://www.energystar.gov/index.cfm?c=tax_credits.tx_comm_buildings
Download Southern Insulation's Manufacturer Certification Statement. Click Here to download
