If you’re looking for a way to save money on your home energy bills, spray foam insulation may be the answer.
A recent study by the U.S. Department of Energy found that homeowners who installed spray foam insulation saved an average of 20% on their heating and cooling costs.
And, thanks to the new tax credit for spray foam insulation, you can save even more!
In this post, we’ll tell you everything you need to know about the spray foam tax credit and how to take advantage of it.
Table of Contents
What is spray foam and how does it work?
Spray foam is a type of insulation that is spray-applied onto walls, ceilings, and other surfaces.
It expands to fill in gaps and cracks, creating a tight seal that helps keep your home warm in the winter and cool in the summer.
Spray foam insulation has two main types: closed-cell spray foam and open-cell spray foam. Closed-cell spray foam has a higher R-value, which means it’s better at insulating your home.
However, it’s also more expensive and harder to install. Open-cell spray foam is less expensive and easier to install, but it doesn’t have as high of an R-value.
Either way, spray foam insulation is a great way to save money on your energy bills. And, when you take advantage of the insulation tax credit, it’s more affordable than ever!
Tax credit for using spray foam insulation
Here’s what you need to know about the spray foam tax credit:
- The credit is for both closed-cell and open-cell spray foam insulation.
- The credit is equal to 30% of the cost of materials and installation, up to $1500.
- The credit is available for both new construction and existing homes.
If you’re thinking about installing spray foam insulation, now is the time to do it! Thanks to the tax credit, you can save a significant amount of money on your energy bills.
Spray foam insulation is a great way to save money on your home energy bills. Not only will it help keep your home comfortable year-round, but you can also claim the spray foam tax credit.
How to qualify for the tax credit
Only materials and equipment that meet the requirements established by the Department of Energy are eligible for the insulation tax credit.
You can find out from the Energy Star website whether a specific item complies with those requirements.
Spray foam insulation is a great way to save money on your home energy bills. Thanks to the new spray foam tax credit, you can save even more!
This is a great way to reduce your carbon footprint as well!
The benefits of using spray foam insulation
In addition to the money you’ll save on your energy bills, there are many other benefits to using spray foam insulation.
Spray foam insulation:
– Helps keep your home comfortable year-round
– Reduces noise pollution
– Is environmentally friendly
– Can help improve the indoor air quality of your home
How to claim the spray foam tax credit
If you’re looking for a way to save on your taxes, look no further than spray foam insulation.
Thanks to the Residential Energy Credit, you can claim up to $500 in tax credits for installing this type of insulation in your home.
So what are you waiting for? Find your W2 online and claim your credit today and start enjoying the benefits of spray foam insulation!