New Energy Tax Credit Could Stimulate Green Renovation Jobs

By Robert Robillard on Uncategorized

By Nation’s Building News

Beefed-up tax credits for energy-efficient home improvements in the new stimulus package are expected to help increase demand for green renovation projects this year and next.

The IRS Section 25C tax credit for existing homes, which had expired at the end of 2007, was reinstated as part of the economic rescue package passed by the Bush Administration last fall. Installing energy-efficient windows, doors, roofing and insulation as well as furnaces, air conditioners and heat pumps all qualified for the credit.

But remodeler’s found that the terms of the 25C credit – equal to only 10% of the cost of each product and with a lifetime cap of $500 – weren’t quite strong enough to get enough homeowners off the fence and into a contract. Under the stimulus legislation signed by President Obama, the percentage of the cost and lifetime cap have been tripled to 30% and $1,500, respectively; the list of eligible improvements has been expanded and the deadline for applying has been extended through the end of 2010.

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Robert Robillard

Carpenter / Remodeler / Editor

Rob Robillard is “The Concord Carpenter” Rob is a builder, general contractor, carpenter, woodworker, and editor of Concord Carpenter and ToolBoxBuzz As a General Contractor and carpenter, Rob owns and operates Concord Carpenter LLC. A full-service remodeling and construction company. Rob is a recognized leader in home building best practices and a source for how-to information for building professionals. On this website, Rob covers all aspects of home construction, building science, home improvement, woodworking, remodeling, and some of the best product and tool reviews. Rob is in charge of our Tool and Product Review series - Concord Carpenter Videos where we post all of our tool reviews and video tutorials. Rob approaches remodeling and building construction with a pragmatic and problem-solving approach. He enjoys using his knowledge and experience to help and educate building professionals as well as DIYers on best practices in the construction and remodeling industry. He's a strong advocate for "raising the bar" in the construction trades and promoting the trades to youth. #BeAMentor #Green2Great Craftsmanship, quality, and pride guide his journey on this channel The Concord Carpenter's motto: "Well done is better than well said!" : Read more about Rob

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