Save Money, Take Steps to Preserve the Enviornment This Earth Day

April 15, 2009 - New federal tax credits can help consumers commemorate Earth Day by giving them a financial incentive to make changes that can help them reduce their energy use and diminish their impact on the environment, according to the National Association of Home Builders (NAHB).

“Every day, our members help home owners and home buyers make the green choices that are right for their budgets,” said NAHB Chairman Joe Robson, a builder and developer in Tulsa, Okla. Robson pointed to three ways to save:

- In Alabama, John Allen of Southern Construction advises his customers that extra insulation in the attic and a new energy-efficient water heater or heating and air conditioning unit are three improvements with the biggest bang for the buck. Applying for the IRC 25C energy-efficiency tax credit can return up to $500 of the cost of each project, Allen pointed out.

- The IRS 25D tax credit is available for 30 percent of the cost of qualified solar-, wind- and geothermal-powered renewable energy units for an even greater financial boost. Moreover, there are state and city programs that tack on additional incentives. Rebates of up to 50 percent of the cost in some Colorado communities for wind power systems and a solar electric buy-down program in Oregon are two examples, Robson said.

- Ready to buy new? “If you are a first-time buyer, use the $8,000 tax credit that Congress granted earlier this year to make your new home a green home,” Robson advised. For example, the tax credit more than pays for the cost of upgrades and certification to the Silver level of the NAHB National Green Building Program at Stevens Fine Homes in Wilmington, N.C., and results in a home built to be 30 percent more energy-efficient than one that meets the building code. The company has certified 22 homes to NAHBGreen since August 2008.

Learn about the energy efficiency tax incentives at www.nahb.org/efficiencytaxcredit. Find links to additional state and local incentives for renewable energy at www.dsireusa.org. Get the details of the $8,000 new home credit for first-time buyers at www.federalhousingtaxcredit.org. And get the facts on green building and remodeling at www.nahbgreen.org.

As consumers look to save money and resources, home builders are leading the way.”Today’s homes are significantly more energy efficient than those built 20 and even 10 years ago, and we continue to make advances in building science and new construction techniques,” Robson said. “The home building industry is getting greener every day – and our customers are reaping the rewards.”