We’ve discussed how inefficient our buildings are. We’ve covered how confusing all the various types of insulation are. The result is that we waste tremendous amounts of energy in this country. This has built an energy dependence on foreign fuels that concerns a lot of people for a lot of reasons. Furthermore, there’s tremendous pollution and an unnecessary use of non-renewable resources to heat and cool our homes.
The federal government has, at times, offered various incentives to drive consumer behavior. Their goal is to dramatically reduce the amount of energy needed to heat and cool our country’s homes, factories, and commercial buildings.
In 2009 and 2010 the federal government offered a great tax credit when you improve the insulation in your home. 30% of the cost of the improvement, up to $1,500, was available as a tax CREDIT. In 2011, the credit is up to $500.
A tax CREDIT is much better than a tax DEDUCTION. Why? Because a tax CREDIT is dollar for dollar lowering how much you owe. A $1,500 Tax Credit saves you from paying $1,500 to the government. That’s $1,500 cash that stays in YOUR pocket. On the other hand, a $1,500 tax deduction only reduces your income. That means you save some fraction of $1,500.
Local governments and utilities are getting into the action too.
For instance, here in Chicago, the major gas companies are offering 75% of the total cost of insulation, up to $750, back on insulation improvements. What’s going on in your neck of the woods?
Now let’s look at simple math:
You can save up money on the insulation improvements in your primary residence if you use tax credits or local incentives.
You can save up to 40% of your heating and cooling bills when you seal out air leaks.
Your home’s resale value goes up the less you spend month to month.
Guess what? You might get all of those things and more. It works. Period. When you begin to properly seal your home using spray foam insulation, your numbers will absolutely shoot through the roof. You will be completely amazed!
So, you might be saying that this is just too much work. You know what? I agree with you 100%!! I can’t imagine trying to figure out all of this by myself in a short time. Give us a shout if you want some help!
Experience shows that people who seal and insulate their home properly enjoy more money to spend, more comfort, and better health. Touch base and let us know what you need to make a smart decision for you.