As energy prices continue to rise, it pays to insulate–in more ways than one. Cool Connections team recommends you to add insulation to your home or building that can help you put money in your pocket. Additional attic insulation helps reduce the transfer of heat through ceilings and could help save you up to 48% on heating and cooling bills. In addition to lower utility bills, according to the EPA, for every $1 homeowners saved on annual fuel bills due to energy-efficient home improvements, their home’s value jumped by $20 or more. Significant Tax Credits are even available for the purchase of insulation.
What is the energy efficiency tax credit worth?
Home owners are eligible for a tax credit of up to $1,500 for 30% of the costs of qualified energy efficiency improvements made to their homes. Therefore, if a homeowner spends $1,000 on new qualifying insulation, they are eligible for a $300 Federal tax credit.
Fiber glass insulation offers the following benefits:
- Thermally efficient-attic insulation can account for up to 50% of a home’s total heat loss.
- Excellent acoustics-Sound control is greatly aided with fiber glass insulation.
- Low cost- Adding insulation can reduce your monthly heating and cooling bill by up to 48% and add to the resale value of your home.
- Noncorrosive-Safe for your home and your family.
- Does not absorb moisture- controls water vapor to help lower the risk of dangerous mold growth.
- Noncombustible-Safe and will not ignite in case of fire.
- Won’t settle over time- When R-38 is installed in your home, no need to add insulation later.
- Easy to handle and install- Safely and neatly installed in your home.
What does R-value mean?
R-value measures insulation’s resistance to heat flow. It can also be referred to as “thermal resistance.” The higher the R-value, the greater the insulating power. All materials having the same R-value, regardless of type, thickness, or weight, are equal in insulating power. The R-value of different insulating materials must be based on test methods established by the American Society of Testing and Materials (ASTM). Don’t forget that R-values are determined by material type, thickness, and installed weight per square foot, not by thickness alone. Insulation helps keep your home cool during the summer months and warm during the winter months.
How much insulation do I need in my home?
To qualify for the tax credit, insulation levels must meet the requirements of the American Recovery and Reinvestment Act of 2009. Refer to the map below for state-by-state R-value recommendations. These levels should meet the criteria for the Federal tax credit. For the majority of homeowners, this will mean adding between R-19 and R-30 insulation in their attics to maintain R-38 total in attic.