Needed boost for the remodeling and home improvement industry

OK remodeling and home improvement company owners. Our stimulus package has arrived!

The federal government just gave the remodeling and home improvement industry a huge boost in the form of modifications to the energy efficient improvements credit.

For 2009 and 2010 homeowners can receive a tax credit of 30% of the cost of specific energy efficient products added to the home up to a lifetime cap of $1500. Those products include electric heat pumps, central air, water heaters, gas furnaces, exterior windows, doors and skylights, just to name a few.

Check out this article in Nation’s Building News or the Congressional Record for the actual bill.

Past studies have shown that existing homes, especially those built more than 20 years ago, are responsible for a large amount of our nation’s energy consumption. Retrofitting these existing homes with energy-efficient features is more effective in reducing energy consumption than making changes to new housing energy efficiency requirements.

The bill is very specific about what products qualify for the tax credit. For example, not all Energy Star rated replacement windows qualify. Qualified windows will also need to meet an additional requirement that the window is equal to or below a U factor of 0.30 and SHGC of 0.30.

So study up on which of your products qualify. Contact your suppliers and manufacturers to get factual, precise information. Get some marketing together and get it out there to your past customers and targeted new customers. And get back to selling.