Financial Incentives for Quad-Lock products
Besides the enormous
energy-savings from Quad-Lock products, local, state, and federal
authorities and many electric utility companies provide incentives for highly
energy efficient construction and retrofits that can be achieved using Quad-Lock
products. Some of them and good resource sites are listed below for the
USA and Canada.
USA
A great place to search most available programs is the Database of State Incentives for Renewable Energy (DSIRE)
In this section: Energy Efficient Mortgages |
Energy Bill's Tax Incentives |
State & Local Programs |
Electric Utility Programs
Energy Efficient Mortgages for Owners
More and more lenders provide so-called "Energy Efficient Mortgages" (EEM). These mortgages recognize the fact that highly energy efficient homes cost less to operate. This in effect increases a borrower's income - money in your pocket or to qualify for higher mortgage amounts/shorter terms.
Example: How an Energy Efficient Home Pays for Itself and then some
- Borrower finances 100%
of energy improvements
- 6.0% 30-year mortgageStandard
MortgageEEM
Energy Improvement Costs
-
$6,000
Appraisal Value
$200,000
$206,000
Down Payment
$20,000
$20,000
Mortgage Amount
$180,000
$186,000
P & I
$1,079
$1,115
Monthly Energy Savings
-
-$80
Total Monthly Payments
$1,079
$1,035
This means that even after you paid for the additional cost of Quad-Lock you're still saving another $44/month, $528/year, and more with rising energy costs...
Steps:
- Pre-qualify with an EEM Lender (see Dept. of Energy Listing)
-
Evaluation of home's energy efficiency (e.g. inspection by a
professional energy rater, see
RESnet Rating Providers)
Energy Bill and Stimulus Bill Tax Incentives for Energy Efficient Construction
For Home Improvements: R-ETRO System Installations qualify for a Tax Credit for Homeowners of 30% of cost up to $1,500. Download our Manufacturer's Certification Statement for your tax records.
For Homebuyers (American Recovery and Reinvestment Act): A federal tax credit is available to first-time home buyers who purchase a principal residence in 2009 and close prior to December 1st. The credit is equal to 10% of the purchase price, up to a maximum of $8,000, subject to certain income limitations. And as long as they occupy the property as their main residence for three years, it need not be paid back. Find more information at federalhousingtaxcredit.com.
For New Construction: The Energy Bill includes tax incentives to build more energy efficient homes and commercial buildings. Constructing the building envelope with Quad-Lock Insulating Concrete Forms by itself can meet or come close to the requirements for those incentives (depending on climate, chosen R-value, and other factors).
The relevant sections in the "Energy Policy Act of 2005" are Title XIII, Subtitle C: Sections 1332 & 45L (residential) and Sections 1331 & 179D (commercial). Read full text of relevant sections (pdf, 30kB) or the entire Energy Bill. Source: thomas.loc.gov search 'H.R.6' , version ENR, accessed Oct. 7, 2005
For Residential Contractors
What: $2,000 tax credit to eligible contractors for each qualified new energy efficient home
How: View IRS Form 8908 & Instructions and IRS Guidance.
Energy Raters will certify the energy performance based on RESNET approved software: List of RESNET energy raters , RESNET proceduresRequirements: tax credit to eligible contractors for each qualified new energy efficient home
"(1) certified--
(A) to have a level of annual heating and cooling energy consumption which is at least 50 percent below the annual level of heating and cooling energy consumption of a comparable dwelling unit--
(i) which is constructed in accordance with the standards of chapter 4 of the 2003 International Energy Conservation Code, as such Code (including supplements) is in effect on the date of the enactment of this section, and
(ii) for which the heating and cooling equipment efficiencies correspond to the minimum allowed under the regulations established by the Department of Energy pursuant to the National Appliance Energy Conservation Act of 1987 and in effect at the time of completion of construction, and(B) to have building envelope component improvements account for at least 1/5 of such 50 percent"
For Commercial Owners / Tenants
A one-time tax deduction of up to $1.80 per square foot is available to eligible owners or tenants (or designers, in the case of government-owned buildings) of new or existing commercial buildings designed to reduce the total annual energy and power costs [..] by 50 percent or more in comparison to a reference building which meets the minimum requirements of ASHRAE Standard 90.1-2001.
Partial deductions of up to $0.60 per square foot can be taken for comparable reductions from any one of three building systems - the building envelope, lighting, or heating and cooling system - that meets goals consistent with achieving the 50% savings for the entire building.
A mechanical engineer will calculate the energy performance based on ASHRAE 90.1-2001.
For more information view the IRS Instructions & IRS Guidance or visit the Tax Incentive Assistance Project or Commercial Buildings Tax Deduction Coalition
State and Local Programs
State and local energy programs provide various rebates, incentives, and credits for energy efficient construction to builders and owners. Since so many programs are available, start by contacting your State Energy Office at the DoE's State Energy Program (SEP) website. Also check the Database of State Incentives for Renewable Energy (DSIRE).
California
Unlike the federal tax credit, which is for first-time home buyers who buy either a new or existing house, the California tax credit - 5% of the purchase price, up to a maximum of $10,000 - is targeted only at buyers of newly built homes. Learn More.
Louisiana
Eligible homeowners affected by Hurricanes Rita or Katrina may receive up to $150,000 in compensation. The Road Home program also provides assistance to homeowners with the "Build Safer, Stronger, Smarter" campaign for homes to withstand hurricanes. ICF construction is ideal for the program's objectives of Resistance to Winds and wind-borne debris, Energy Efficiency, Termite Resistance, and Resistance to moisture, mold and decay. Learn more.
Electric Utility Programs
Also contact your local electric utility company to find out about
any energy efficiency rebates, incentives and programs the company may
offer for builders or owners. The
Database of State
Incentives for Renewable Energy (DSIRE) is a good starting point.
Canada
A multitude of financial and other incentives are available in Canada for energy-efficient new construction and retrofits. A good place to start researching them is the Office of Energy Efficiency. Some of the programs are:
- Mortgage Loan Insurance Premium Refund
- ecoENERGY Retrofit Incentives
- Energy Efficiency in New Homes
- Energy Efficiency in New Commercial Buildings
For more info, also refer to the OEE's Directory of Programs or the Incentives Database by Environment Canada, which also include provincial and municipal incentives.
New Federal Home Renovation Tax Credit and ecoEnergy Retrofit Grants
January 28, 2009 - Yesterday's Canadian Federal Budget included two items of interest to renovators and their customers for Quad-Lock's R-ETRO High Performance Insulation System. This note provides you with preliminary details on these measures, and how to get additional information.
Home Renovation Tax Credit
This tax credit is available to homeowners at the rate of 15% on expenditures over $1,000 to a maximum tax credit of $1,350. (Requires a total expenditure of $10,000). Note that this tax credit is over and above any other government grant or incentive the homeowner may be eligible for, such as an ecoENERGY grant, so homeowners can claim both for eligible work.
The tax credit is based on eligible home renovation expenditures for work performed, or goods acquired, after January 27, 2009 and before February 1, 2010.
According to the government, the tax credit can be claimed "for renovations and enduring alterations to a dwelling, or the land on which it sits". The credit can be claimed on eligible expenditures incurred on one or more of an individual's eligible dwellings. Properties eligible for the credit include houses, cottages and condominium units that are owned for personal use. (i.e., not rental properties)
Renovation costs for projects such as finishing a basement or re-modeling a kitchen will be eligible for the credit, along with associated expenses such as building permits, professional services, equipment rentals and incidental expenses. Routine repairs and maintenance will not qualify for the credit. Nor will the cost of purchasing furniture, appliances, audio-visual electronics or construction equipment.
The Home Renovation Tax Credit will be family-based (i.e., one credit per family). For the purpose of the credit, a family is generally considered to consist of an individual, and where applicable, the individual's spouse or common-law partner. While full details of how the Home Renovation Tax Credit will be administered are not yet available, it appears that homeowners will claim their tax credit on their income tax returns. Additional information is available from the Department of Finance at: www.budget.gc.ca/2009/pamphlet-depliant/pamphlet-depliant3-eng.asp
ecoENERGY Retrofit Program
The ecoENERGY program provides home and property owners with grants of up to $5,000 to offset the costs of making energy-efficiency improvements. Grants apply to a variety of measures that reduce energy consumption from increasing insulation to upgrading a furnace. The new Budget announced an additional $300 million in ecoENERGY funding over the next two years to support an estimated 200,000 additional home retrofits. No changes to how the program operates were announced. Additional information on ecoENERGY Retrofit Grants is available on the Natural Resources Canada (NRCan) website: oee.nrcan.gc.ca/residential/personal/retrofit-homes/retrofit-qualify-grant.cfm
