2013 was the last year for home owners to take advantage of the spray foam insulation tax credit offered via Extended Federal Tax Credits for Energy Efficiency and the Energy Efficient Tax Credit Extension. As long as you had your insulation installed before December 31st of 2013, you are eligible to file for a tax credit for making your home more energy efficient. This can save you hundreds, even thousands of dollars via grants and credits for insulating specific rooms in your house, such as your basement and exterior walls. These garner a $1250 and $1875 grant, respectively.
That’s not the only way you can get money back from installing spray foam insulation in your home. You can also receive a spray foam insulation tax credit as a Federal Tax credit, which gets you 10% of up to $500 of the cost of installation or a specific amount from $50-$300 back from installation costs, as long as you haven’t claimed a total of $500 in the previous years this tax break has been available. Be sure to file form 5695 with your 2013 taxes in order to ensure that you receive the tax credit with your return.
Even without the Federal Tax Credits for adding insulation in your home, spray foam insulation can still reduce your heating and cooling bills in your home by over 50% through the course of a year. It’s never too late to save money and help the environment, so look into getting spray foam insulation added to your home today.