USA to give larger Tax Credits for Home Insulation

As part of the American Recovery and Reinvestment Act the tax credit for home improvements has been increased from 10 percent to 30 percent of the cost and the maximum amount of the credit has been increased from $500 to $1,500. the original $500 credit was introduced in the federal Energy Policy Act of 2005.

This follows moves by other countries such as Ireland to incentivise homeowners to increase the energy efficiency of their homes.  “A three bedroom house could save around 2.6 tonnes of carbon dioxide (CO2) a year” according to this thermal insulation company.

It is hoped by governments that not only will the credits improve the energy efficiency of homes, but will also result in increased activity for a construction sector that is already suffering disproportionately from the global recession.

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