Green Remodeling Cash Incentives

Serving the greater Tampa Bay area.  Please visit www.CharterBayHomes.com after reading our blog.

CASH FOR GREEN – INCENTIVES

With the strong push towards “Green Building” and energy efficiency in our country there are several incentive programs available from the government, power companies, and us here at Charter Bay, to help homeowners get the most bang for their remodeling project dollar. All of the incentives are a nice add-on to the long-term cost-saving benefits of making your home more efficient. For the most part, we view these incentives as good motivators to add some energy efficient options to an already planned remodeling project. However, if the proposed “Cash For Caulkers” program (see below) becomes legislation it will be so significant a benefit as to be a reason unto itself to embark on a remodeling project!

There is a wealth of information available about the programs that are available, but it is also quite overwhelming to determine which programs apply to your individual needs. We are going to address those areas which have the most potential for our remodeling clients here in the greater Tampa Bay area. In the interest of clarifying this somewhat murky topic we are going to stick to the basics and filter the information down to its core components. At the bottom of each section you will find links to get additional information.

CHARTER BAY HOME BUILDERS TAMPA BAY GREEN HOME BUILDING AND REMODELING INCENTIVE

At Charter Bay we believe strongly in the green building movement; are accredited as a Green Building Professional by the NAHB; as a Green Certifying Agent by the Florida Green Building Coalition; and offer this incentive program as just another reason to consider adding green features to your home remodeling project.

Total Credit Available: $500

Expires: End of 2010

Details: We will credit our contracted clients:

• $100 for any new Energy Star Appliances added to their project
• $100 for any insulation upgrades
• $100 for any window upgrades
• $100 towards any new A/C system upgrade
• $100 towards any solar or tankless hot water heater system

THE AMERICAN RECOVERY AND REINVESTMENT TAX ACT OF 2009

Total Credit Available: $1,500

Expires: End of 2010.

Income Limit: There is no upper or lower income limit to this program.

How to apply: For products “placed in service” in 2010, you would take the tax credit on your 2010 income taxes by filing the 2010 IRS Form 5695.

Covers: Energy efficient A/C equipment upgrades, water heating equipment, windows & doors, insulation, and Energy Star roofing.

Details: Some of the items covered include the product and the installation costs, others only include the product itself. Most eligible components limit the incentive to 30% of the cost (up to a total of $1,500). For example, if you spent $3,000 on qualifying windows you could get up to $900 back for that upgrade. This would leave you with $600 left to get back on other eligible components.

Even Better: One of the great details to this program pertains to on-site renewables like solar photovoltaic and hot water systems. These are now eligible for a tax incentive worth 30% of the total cost, without the $1,500 cap!

To learn more about the details of this program please visit: http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

FLORIDA ENERGY STAR APPLIANCE REBATE PROGRAM

Total Credit Available: $1,500

Expires: Runs from April 16 though April 25, 2010

Details: This program applies to the purchase of Energy Star refrigerators, freezers, washing machines, dish washers, room air conditioners, and gas tankless water heaters. It will pay up to 20% of the pre-tax purchase price of any of the qualifying items.

To learn more about the details of this program please visit: http://www.myfloridaclimate.com/climate_quick_links/florida_energy_climate_commission/energy_star_appliance_rebate_program

CASH FOR CAULKERS PROGRAM

This may turn out to be the mother of all energy-efficiency incentive programs. On December 8, 2009 President Obama unveiled his plan for the Cash For Caulkers program. This program would reimburse homeowners for energy-efficient appliances, windows, A/C systems, and insulation.

We are still waiting on some of the details, but this is what we know so far. The legislation would have to pass through Congress, but it appears there is plenty of support for it and a desire to move it through the process quickly. Incredibly, this program proposes to give homeowners up to a whopping $12,000 in rebates for making energy-efficient improvements to their homes! This would be a huge boon to anyone considering a remodeling project on their existing home.

So, in addition to the significant drop in energy bills a homeowner could see from adding improvements, they could also get back a large amount of money just for installing these components that will continue to benefit them and their homes for years to come. We are very excited about this program and will post all updates we learn on our blog at www.CharterBayHomes.com/blog

PROGRESS ENERGY’S ENERGY-EFFICIENT HOME IMPROVEMENT REBATES

Total Credit Available: $1,275

Expires: Not Specified

Details:

• Attic/Insulation – $75 minimum
• Wall Insulation – Up to $300 rebate
• Ducts – Up to $150 rebate
• Heat Pump – Up to $350 rebate
• Windows – Up to $250 rebate
• Roof – Up to $150 rebate

To learn more about the details of this program please visit: http://www.progress-energy.com/shared/stw2/sp_ehi.asp

TECO (TAMPA ELECTRIC) INCENTIVES

Total Credit Available: Up to $950

Expires: Not Specified

Details: Ceiling Insulation: $100 incentive for insulating up to 1,500 square feet, $150 for 1,501 to 2,200 square feet, and $200 for 2,201 or more square feet. Wall Insulation: Up to a $200 incentive to purchase a minimum of R-6 wall insulation. Window Replacement: An incentive up to $350. Window Film: Up to $200 for applying film to eastern and western exposed windows.

To learn more about the details of this program please visit: http://www.tampaelectric.com/residential/saveenergy/buildingenvelope/

TECO PEOPLE’S GAS

Total Credit Available: Up To $1,415

Expires: Not Specified

Details: When you add value to your home with natural gas appliances, you can save on your overall energy costs. And, through the Peoples Gas energy conservation program, you may also be eligible for cash-back allowances, designed to help you start saving right away. Some restrictions apply. Contact Peoples Gas for more information.

To learn more about the details of this program please visit: http://www.peoplesgas.com/residential/rebates/

TAMPA GREEN FAST TRACK REVIEW

This expedited permitting program is available to anyone wishing to build an environmentally sustainable or “green” project. Plans may be moved to the “front of the line” for both commercial and residential projects.

To learn more about the details of this program please visit: http://www.tampagov.net/dept_Green_Tampa/information_resources/Green_City.asp

Call us today at (813) 357-9030 to see how we can help you take advantage of these programs!

Charter Bay Home Builders, is a full-service remodeling and custom home building contractor committed to having the knowledge necessary to help our clients get what they want out of their building project.  We work throughout the Tampa Bay area including Pinellas, Hillsborough, Pasco, and Hernando counties.  As a Green Certified remodeler and builder (FGBC Certifying Agent & NAHB Certified Green Building Professional), Charter Bay can offer any level of “green” desired based on any budget.  Visit our website, www.CharterBayHomes.com , today to learn how “The Charter Bay Way” delivers our customers:

“Yesterday’s Values • Today’s Technology • Tomorrow’s Vision”