US GreenFiber, LLC announced that the installation of its primary product line, Cocoon(R) insulation qualifies for a new residential energy-saving tax credit.
Recent legislation allows taxpayers who make their homes more energy efficient from January 1, 2006 through December 31, 2007 to claim a tax credit of up to $500 on the amount spent on existing homes to increase and/or install insulation. In addition to insulation, other additional upgrades eligible for this tax credit include the installation of energy saving heating systems, windows, doors, and thermostats. Tax credits are more valuable than deductions because they represent a dollar-for-dollar reduction in a homeowner's tax bill, and itemizing is not necessary to claim these credits.
As an Environmental Protection Agency's ENERGY STAR partner, GreenFiber's Cocoon installation helps to seal air leaks while also insulating attics and walls to reduce escalating energy costs. Cocoon consists of an earth- friendly, 85 percent recycled material and requires less energy to produce than mineral fibers such as fiberglass. Cocoon also reduces sound and has a Class-1 fire rating. The product, when used in the attic and exterior walls, delivers high energy efficient performance in blocking air infiltration. For installation recommendations and additional information on Cocoon, visit http://www.cocooninsulation.com
"With cold weather around the corner and President Bush's call to conserve, small actions -- like changing a light bulb or weather-stripping the windows -- can benefit our wallets and our nation's energy resources," said EPA Administrator Stephen L. Johnson. "By taking a few common-sense steps to conserve our home energy use, we can get the most out of our energy dollars and keep more money in our pockets." The average American household spends $1,500 annually on energy bills -- a number that may go up as much as 50 percent this year. Almost half of that energy goes to heating and cooling residences.
With heating bills anticipated to increase dramatically this winter because of high oil prices and problems at refineries, energy costs are projected to rise 20% to 50% depending upon the severity of the winter. Unfortunately, there are no guarantees that prices will return to the low prices we had just a few years ago. That's why many consumers are taking measures to make their homes more energy efficient during the tax credit period. A residential energy rating helps consumers determine which improvements will deliver the biggest reductions in their energy bill. A certified energy rater can be located at http://www.natresnet.org.
Established in 2000, US GreenFiber, LLC is a quality-conscious provider of Cocoon insulation, fire and sound products. Cocoon is sold through major home centers, building supply retailers and lumberyards in the US and Canada to the do-it-yourself and contractor customer. US GreenFiber's products are also sold through a national sales force to residential and commercial contractors as well as to the manufactured housing industry. The company, headquartered in Charlotte, NC, has a total of 12 manufacturing plants. For more information on US GreenFiber, please visit http://www.us-gf.com.