Thoroughly insulating your house is among the more effective ways of saving energy and money on your home’s heating and cooling. Insulating your walls, attic, and basement, plus the ductwork in your heating and cooling systems, will eliminate much of the energy loss you are likely to see over the course of an average year.
If you purchased or plan to purchase insulation for your home in 2011, you may be entitled an energy-efficiency tax credit on your yearly income tax. The U.S. government offers tax credits for various types of insulation, including rolls and batts, rigid boards, expanding spray, blown-in fibers, and pour-in-place insulation.
Insulation that provides air sealing also qualifies for the 2011 tax credits, as long as it comes with a Manufacturer’s Certification Statement. This includes products such as weatherstripping, caulking, house wraps and canned spray foam.
The insulation must be installed in an existing home that is your principal place of residence. New construction and rental units do not qualify for the credit.
The 2011 tax credit for insulation amounts to 10 percent of the cost of the insulation, up to a maximum of $500.
The credit does not apply to professional installation costs. You will still qualify for the tax credit, however, if you install the insulation yourself.
If you want to apply for the insulation tax credit, don’t delay; it’s scheduled to expire at the end of 2011.
To apply for your tax credits for insulation installed in 2011, you must file the 2011 version of IRS Form 5695 with your 2011 federal income taxes by the IRS tax filing date of April 15, 2012. The latest version of Form 5695 will be available from the IRS in early 2012.
Around the Clock Heating and Air Conditioning, Inc. has been a trusted source of residential and commercial heating and air conditioning service since 1967. We serve customers in Los Angeles and surrounding areas, including Pasadena, Glendale and Santa Monica. Contact us todayfor help with choosing and installing insulation that will qualify for a 2011 federal tax credit.
Our goal is to help educate our customers about energy and home comfort issues (specific to HVAC systems). For more information about adding insulation and other HVAC topics, download our free Home Comfort Resource guide.
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