My friends at Owens Corning tell me their Basement Finishing System™ wall panels have been approved by the U.S. Department of Energy as a qualifying product for the homeowner tax credit made possible this year and next by the Energy Policy Act of 2005. In fact, they say the Owens Corning system is the ONLY basement remodeling solution to qualify for the Energy Tax Credit. Insulated basement walls can save up to 25 percent on heating and cooling costs. To learn more about how you can save energy, save up to $500 and get more space for living, click here. The Owens Corning certificate for energy saving products is also online, along with accompanying information. An Internal Revenue Service notice is available from the IRS.

Posted by Pink Panther Online Energy Resources , Owens Corning , Tax Credits and Incentives at 10:52 AM | Permalink | TrackBacks (0)

The Owens Corning Builder Energy Solutions Calculator is now an accredited tax credit compliance tool. As baseball legend Casey Stengel might have said it, "You can look it up." RESNET, the Residential Energy Services Network, maintains a national registry of accredited tax credit compliance software tools that now totals four with the Owens Corning program. Accredited tax credit verification tools provide the calculations necessary to determine whether a home qualifies for the federal tax credit for energy efficient homes. This is a big help for builders who want the $2,000 tax credit for a new home that uses 50 percent less energy for heating and cooling than the standard home specified in the legislation. Builders interested in the Owens Corning calculator should contact their area sales manager, or call 1-800-GETPINK.

Posted by Pink Panther Online Energy Resources , Tax Credits and Incentives at 05:20 PM | Permalink | TrackBacks (0)

If you are looking for more information about the savings available to US homeowners through the Energy Policy Act of 2005, check out the tax credits section of the Alliance to Save Energy website. The Alliance to Save Energy promotes energy efficiency to achieve a healthier economy, a cleaner environment and greater energy security. The Alliance echoes the widely held belief that energy efficiency is the quickest, cheapest, cleanest way to extend our world's energy supplies. Their website has a section with consumer savings tips and a tips booklet titled, "Power $mart: Save Energy, Save Money, Save the Planet."

Posted by Pink Panther in Tax Credits and Incentives at 05:40 PM | Permalink | TrackBacks (0)

If you are planning to take advantage of tax credits available through the Energy Policy Act of 2005, be sure to collect a Manufacturer's Certification Statement for each qualifying products you purchase and use. Manufacturers are encouraged to provide a listing of qualified products and related information on their websites to help taxpayers identify products that can qualify for the credit. Tax advisors typically recommend keeping the statements with purchase receipts. The Owens Corning certificate for energy saving products is now online as recommended, along with accompanying information. An Internal Revenue Service notice is available from the IRS.

Posted by Pink Panther in Tax Credits and Incentives at 04:15 PM | Permalink | TrackBacks (0)

The Canadian government cancelled all "pre-retrofit" evaluations effective last Saturday, according to a company that evaluates homes for federal energy-saving grants. Under the program, homes retrofitted with energy-efficient furnaces and extra insulation could qualify for rebates from the federal and provincial governments. The two-step process required people to get their homes evaluated before renovations were made, and then get a follow-up evaluation to determine the size of the grant they would receive. This is a sad setback for energy efficiency because a home retrofitted under the program cuts its energy use by an average of 30 percent. A typical homeowner who boosted their EnerGuide rating to 73 from 60 would get a federal grant of C$827, plus a matching provincial grant. The cut is not surprising, I suppose, because earlier this month the federal budget for the program was slashed by C$227 million over five years. For more on this topic, check CBC News.

Posted by Pink Panther Tax Credits and Incentives at 04:05 PM | Permalink | TrackBacks (0)

The US Energy Policy Act of 2005 provides tax incentives to homeowners and builders who implement qualified energy efficiency measures. Owners of existing homes can earn up to a $500 tax credit and builders can earn up to $2,000 with new construction. To help businesses and consumers understand the opportunity and how they can take advantage of it, the Midwest Energy Efficiency Alliance is hosting a free one-day workshop on Thursday, May 11. The event will be at the Chicago Athletic Association, 12 S. Michigan Avenue, Chicago, and industry experts will be there to answer questions. The agenda is online at the MEEA Web site. While you are there, check the report of a Midwest Residential Market Assessment conducted for MEEA. In section 4.2.2, the report says as many as 30 percent of the homes in the five-state region (Indiana, Kentucky, Michigan, Missouri and Ohio) may have uninsulated walls and attics.

Posted by Pink Panther Energy News , Green Design , Tax Credits and Incentives at 01:35 PM | Permalink | TrackBacks (0)