NAHB is reminding consumers that the energy-efficient tax credit for existing homes (Internal Revenue Code Section 25C) is set to expire at the end of 2010. That means home owners have precious little time left to take advantage of the credit to offset the purchase cost of products that can help them save energy and reduce their utility bills. The tax credit for efficiency upgrades in existing homes is available for 30% of the cost, up to a $1,500 limit, for 2009 and 2010 installations of certain types of insulation, windows, roofs, water heaters, heat pumps, air conditioners and furnaces. Congressional economists have projected that the energy-efficient tax credits will have generated approximately $6 billion in remodeling work by the end of this year. NAHB has been working with members of Congress in hopes of extending the expiration date, but there is no guarantee that the tax credits will be available for energy-efficient upgrades that occur after Dec. 31 — so help us get the word out that consumers should strike now, while the iron is hot! More information about the kinds of products that qualify and instructions for obtaining the credit before the end of the year are available at www.nahb.org/efficiencytaxcredit. Contact: Kelly Mack, 800-368-5242, x8451. |
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