Residential Retrofit Tax Credit legislation introduced in U.S. Senate
Three U.S. Senators have introduced a legislation regarding a performance-based whole house tax credit into the U.S Senate according to RESNET. The legislation dubbed the "Energy Energy Efficiency Tax Incentives Act’’ (S. 2189) offers a tax credit of $2000 for homes that have been able to reduce energy use by at least 20%. The proposed bill aims to increase this credit by $500 for every five percent reduction up to a maximum credit of $5,000.
RESNET says that the legislation specifies a requirement of energy modeling of the home “based upon modeling software certified by RESNET as following the software verification test suites in section 4.2.1 of RESNET Publication No. 06–001” and requires a test in and test out by a certified Home Energy Rater.
Icynene spray foam insulation is considered a material that contributes to the energy efficiency of a building and thus can be eligible for tax credits or incentives depending on criteria of the city or state program. Icynene works closely with RESNET Home Energy Raters to show homeowners how they can use spray foam insulation to improve the energy efficiency of their home.