The housing market has probably not yet seen the bottom, but it appears at least that it’s coming in for a soft landing with all the recent encouraging news. Things should start looking up for remodelers as well. Congressional economists project that new federal tax credits for energy efficiency will generate an estimated $6 billion in remodeling work by the end of 2010.
Tax credits are available at 30% of the cost, up to a $1,500 lifetime limit, of installation in 2009 & 2010 (for existing homes only) on these products:
- Windows and Doors
- Insulation
- Roofs (Metal and Asphalt)
- HVAC
- Water Heaters (non-solar)
- Biomass Stoves
Recent developments indicate that these tax credits are already making an impact, as companies prepare for good results. Andersen Windows hired back 180 employees, while Simonton Windows welcomed back 180 employees, and is even looking to hire. (Our Twitter friend @LaurenHunter_HW shared this with us)
Popular Mechanics
Additionally, tax credits are available at 30% of the cost, with no cap through 2016 (for existing homes and new construction) for:
- Geothermal Heat Pumps
- Solar Panels
- Solar Water Heaters
- Small Wind Energy Systems
- Fuel Cells
LAT Home Blogs: Pardon Our Dust
Sure, consumers want energy efficiency, but green remodeling is growing with good reason. Remodeling and retrofitting the nation’s older homes will have a far more significant impact on reducing residential energy consumption than meeting even the most aggressive efficiency goals for new homes, according to Greg Miedema, CGR, CGB, CAPS, chairman of NAHB Remodelers.
It’s a good time for product manufacturers to get aggressive in their marketing to consumers (these products must be “placed in service” before December 31, 2010) and tailor their messaging around the positive benefits of the products, like energy efficiency, and the potential cost savings. If you help a remodeler out, I bet they’d be willing to help you.
Learn more about Green Remodeling with the NARI Green Education Series.
- Cash for Caulkers: Filling Up the (Business) Case
- Remodel Your Business Through Relationships
- Water Efficiency: Green Building’s Dark Horse
- Green Building Trends at Public Schools
- Call for More Aggressive Education on the Passive House
Tags: Andersen Windows, energy efficiency, Green Remodeling, home sales, NAHB Remodelers News, NARI, NARI Green Education Series, Pardon Our Dust, remodeling work, Simonton Windows, tax credits, Windows and Doors