Northwest Construction Industry Gets Boost; Homeowners Get Tax Break
January 4, 2013 — Portland, Oregon – When congress approved the American Taxpayer Relief Act, it extended a tax credit that ended in 2011 for energy-saving home improvement projects. That means there’s a $500 retroactive tax credit available for homeowners who upgraded their home’s energy efficiency in 2012, as well as for those planning to improve their home in 2013.
“This is a big deal for our local economy,” states Neil Kelly Company President Tom Kelly. “Every dollar saved helps homeowners stay in their home longer and make the necessary updates and improvements to create a healthy, energy-efficient home.”
Americans are re-energized about all aspects of home remodeling. According to the Joint Center for Housing Studies, we are forecast to spend an annualized $134 billion on home remodeling through the first half of this year.
“We are in the process of notifying customers who worked with Neil Kelly’s Home Performance team last year to inform them about this tax benefit,” states Kelly.
Tax Credit Breakdown (not comprehensive)
- $150.00 for high efficiency furnaces.
- $300.00 for heat pumps
- $500.00 for insulation (material cost only)
- $300.00 for Heat Pump Water Heaters
- $300.00 for water heaters that have a .82 EF or a thermal efficiency of at least 90%
- $200 for ENERGY STAR-rated windows, doors or skylights
- Neil Kelly’s Home Performance Division
Neil Kelly’s Home Performance division was recently selected by The U.S. Department of Energy as a market leader in increasing energy efficiency of homes. Neil Kelly works closely with Clean Energy Works Oregon (CEWO) and Community Power Works (CPW) in Seattle to offer homeowners free energy audits as well as financial incentives for a variety of energy upgrades.
To take advantage of the $500 tax credit or to sign up for a free energy audit, please visit www.neilkelly.com or call 866-691-2719.