Icynene® spray foam insulation qualifies homeowners for U.S. tax credits and home energy savings
As part of the American Recovery and Reinvestment Act (Stimulus Bill), the home improvement tax credit qualifies homeowners to claim up to 30% of the cost of approved insulation materials* to a maximum of $1,500. For insulation to qualify it must have been placed in service between January 1, 2009 and December 31, 2010 and its primary purpose must be to insulate.
Icynene® spray foam insulation is a fast and effective upgrade and gives home improvers the best return on investment. The following scenario demonstrates how the 2009 home improvement tax credit can help a homeowner to install a superior insulation like Icynene® at a cost closer to a traditional insulation option. In our example, the product cost+ for upgrading the insulation using Icynene® to create an unvented, conditioned attic in a 7,000 sq. ft. home is about $6,000. Therefore, the homeowner would qualify for the full $1,500 tax credit (30 percent of the product cost to a maximum of $1,500). The homeowner may also be able to realize additional savings from creating a conditioned attic with Icynene® such as HVAC equipment rightsizing.
Taking into account the potential installation savings, combined with ongoing energy savings, the payback for the Icynene® investment can be realized in as quickly as 3 years. Depending on the climate zone and the amount of duct leakage in the attic, converting a home to an unvented attic can improve the energy performance by up to 40%. A 7,000 sq. ft. home in Orlando, Florida insulated with fiberglass can cost up to $3,700 to cool and $800 to heat annually++. By creating an unvented attic using Icynene®, energy savings for the home could be as much as $1,800 per year.
“With rising energy costs, now is the time to enhance the energy efficiency of your home with Icynene® while taking advantage of consumer tax credits,” says Alan Rankin, President of Icynene. “Over time homeowners can expect return on investment in the form of consistent and comfortable indoor temperatures, lower energy bills, and increased longevity of air handling equipment.”
As the leading manufacturer of spray foam insulation products, Icynene® offers long-term health, comfort, and energy savings. The time is now to upgrade homes with Icynene® spray foam insulation. Simple steps to claiming the credit for Icynene® insulation: