Insulate your home and claim up to $1,200 on federal taxes
Starting January 1, 2023, and for ten years, taxpaying homeowners can receive a federal tax credit of up to 30% of their insulation purchase. The maximum credit permitted is $1200.
What qualifies for the tax credit?
Building envelope components such as any insulation material or system specifically designed to reduce heat loss or gain of home when installed in a home. This includes insulation, vapor and air retarders, air sealants, and air sealing systems.
Does the tax credit apply to the cost of installing insulation?
The credit is based on materials cost. Discussions with the Department of Treasury about the tax code will to clarify whether labor costs will be included in the tax credit. Stay tuned.
How does a taxpayer get the tax credit?
Your customers can use the latest version of IRS Form 5695 to apply for the tax credit. For tax credits, taxpayers can rely on a manufacturer’s certification in writing. Insulation manufacturers can present a certificate to insulation contractors, like us, stating that their products are eligible for the tax credit.
A home energy audit is the first step to assess how much energy your home consumes and to evaluate what measures you can take to make your home more energy efficient. An audit will show you problems that may, when corrected, save you significant amounts of money over time.
Greenstamp uses a variety of techniques and equipment to determine the energy efficiency of a structure, including blower doors, which measure the extent of leaks in the building envelope, and infrared cameras, which detect areas of air infiltration and missing insulation.