ALEXANDRIA, Va., Jan 16, 2006 -- BUSINESS WIRE

 

Homeowners can earn up to $500 by improving the energy efficiency of their home in 2006 and 2007. The Federal Energy Policy Act of 2005 includes consumer and builder tax incentives to increase the energy efficiency of new and existing homes and commercial buildings. For homeowners, one of the easiest and most beneficial ways to earn the tax credit is to increase the amount of thermal insulation in their attic and basement. The North American Insulation Manufacturers Association (NAIMA) encourages homeowners to take advantage of this tax credit immediately to save on their energy use and help lower their bills.

"With energy costs at an all time high, now is the time for homeowners to improve the efficiency of their homes," said Ken Mentzer, president and CEO of NAIMA. "Adding fiber glass or mineral wool Insulation is one of the easiest and most effective ways for a homeowner to save energy and cut costs, and with the added benefit of the new Federal tax credit, there is no better time to install more insulation."

NAIMA advises that many homeowners may need to add between an R-19 and R-30 insulation to their attics in order to qualify for the tax credit and increase their comfort and savings. Consumers should also consider adding insulation to their unfinished basements and crawlspaces as well since these areas are easy to access and are often under-insulated or not insulated at all. Savings vary. Find out why in the seller's fact sheet on R-values. Higher r-values mean greater insulating power.

Consumers who are unsure if their homes need extra insulation should consider this: Harvard University's School of Public Health estimates that more than 65 percent of American homes are under-insulated by today's minimum standards. Even if your home was built as little as 8-10 years ago, you probably need double the insulation you currently have.

The Internal Revenue Service is currently developing final rules on this tax credit but the Energy Policy Act set the credit at 10% of the final cost of qualified home improvements for a maximum of $500 over both tax years. Consumers should consult the final rules to make certain they follow required steps to qualify for this tax credit.

NAIMA's website, www.SimplyInsulate.com, provides homeowners with free resources to help them assess and take action to increase the energy efficiency of their homes and take advantage of the tax credit. SimplyInsulate.com also provides step by step instructions for adding fiber glass and mineral wool insulation to a home, recommendations on the desired insulation levels for their area, and information on how to find and hire an insulation contractor. Other useful web sites for information on the tax credit include the Alliance to Save Energy's www.energytaxincentives.org and the US Department of Energy's http://www.energy.gov/taxbreaks.htm.

About NAIMA

NAIMA is the association for North American manufacturers of fiber glass, rock wool, and slag wool insulation products. Its role is to promote energy efficiency and environmental preservation through the use of fiber glass, rock wool, and slag wool insulation, and to encourage the safe production and use of these materials.

SOURCE: North American Insulation Manufacturers Association (NAIMA)

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