2011 Federal Tax Credits

The U.S. Government is dispersing $8 billion in funding from the stimulus plan in order to fund weatherization work on homes occupied by low-income families, as well as tax incentives for all eligible homeowners. Here’s what residential and commercial contractors need to know:

• The environmental goal of the stimulus is to reduce America’s energy consumption. To learn about the details of the program, visit the Weatherization Assistance Program (WAP).
• The plan was put into place to achieve two primary economic goals: To provide work for home improvement contractors and to create additional spending in low-income communities.
• Twenty to thirty million families are eligible to take part in the project, according to the U.S. Department of Energy.
• According to the U.S. Department of Energy, weatherization work can lower an average home’s energy bills by approximately $350 per year. Visit WAP’s website for additional benefits.
• Funding will also go to provide tax incentives for families above the poverty threshold who purchase and install items to weatherize their home.
• Consult with your tax advisor and visit the ENERGY STAR® Web site to see how you can be eligible for tax credits.  
• Do you want to learn more about weatherization and how you can make a difference in a family’s home? The WAP offers training opportunities, conferences and seminars for contractors.