FAYETTEVILLE, AR, April 17, 2009
/24-7PressRelease/ -- Buying or building a new home is not the only way to qualify for the government's tax incentive programs. Expanded provisions in existing programs now make it possible for homeowners to earn up to $1,500 in tax credits for energy-efficient improvements.
Homeowners who make qualified improvements including windows, doors, insulation, heating and cooling equipment, water heaters and stoves to their home are eligible for a tax credit equal to 30 percent of the amount paid by the taxpayer up to $1,500. The incentive is actually an expansion of a previous program that was capped at a 10 percent credit and $500.
For insulation to qualify, its primary purpose must be to insulate. The insulation must also be expected to last five years or have a two-year warranty. BioBased Insulation is one product that will help homeowners qualify for the tax incentive.
BioBased Insulation is a soy-based spray polyurethane foam insulation. It installs as a liquid that expands to fill stud-to-stud and creates an air barrier. That air barrier drastically reduces air and moisture movement within a home which increases the energy efficiency and the comfort of the structure. BioBased Insulation does not sag or settle over time and comes with a lifetime warranty.
BioBased Insulation can be installed in attics and crawlspaces - typical problem areas in existing homes - by certified dealers who are trained in building science and application. The tax credit does not include installation costs, only product costs.
These are tax credits, which require the homeowner to spend money before receiving the credit, but tax credits will lower your tax bill dollar-for-dollar.
To qualify for the program, all improvements must be made in 2009 and 2010. Before making improvements, it is a good idea to consult a certified public accountant to make sure your improvements qualify. To claim the credit for insulation, homeowners need a copy of their receipt and should use IRS Tax Form 5695 (version 2009). BioBased Insulation has provided a manufacturer's certification statement on our Web site that can also be included.
To find a BioBased Insulation certified dealer in your area, or for more information about the tax incentive programs, visit http://www.biobased.net.
About BioBased Insulation
BioBased Insulation is committed to making the world's structures more sustainable by developing and marketing performance-tested, environmentally responsible spray foam insulation products. Our goal is to reduce dependence on petroleum products by correctly sealing buildings to make them energy efficient and by utilizing the latest technology to incorporate renewable ingredients into our products and sustainable practices into our business. BioBased Insulation is manufactured by BioBased Technologies , the developer of the Agrol family of soy-based polyols.
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