Earmark for Sustainability
October 20, 2008
Bailouts and Earmarks….
With all the financial crisis and bailout talk, a bright spot of the legislation has been given little attention in the media – I’m taking this opportunity to focus on it apart from the rest of the package.
On October 3rd, President Bush signed into law the Emergency Economic Stabilization Act of 2008, a.k.a. ‘The Bailout’, which includes an extension of the residential tax credits for energy efficient improvements. The previous tax credit expired at the end of 2007 – the extension is for improvements made from January 1, 2009 – December 31, 2009. This tax credit, strongly supported by the American Institute of Architects, represents the forward-thinking energy policy of its proponents and is a solid move toward changing our built environment.
What does this mean for you and your home?
If you are a home-owner who is planning to take on home improvements next year, you will be eligible for tax credit if you include improvement to the building envelope (insulation, replacement windows and doors, new metal roofs) or building systems (water heaters, high efficiency heating and cooling equipment, renewable energy systems such as photovoltaic, solar thermal or geothermal).
If you are building a new home, the building envelope incentives aren’t available, but you will be eligible for tax credits if you include photovoltaics, solar thermal, geothermal or fuel cells into your home.
See the Energy Star page for more information and details on the credits available.
Trends and Opportunities
In our region of Massachusetts and across the United States, the trend in home building and home renovations is definitely moving ‘green’. Architects, engineers, landscape and interior designers, builders and home-owners are working together to include, in new and existing construction, better insulation, more efficient operating systems, safer and more-sustainable materials, and healthier environments. This team strategy is critical for a successful building project and is the basis of the GreenBridge philosophy. As always, feel free to contact me if you you would like information about GreenBridge and our process, green building or renovation, or any of our team partners.
Most of us are aware of the reasons to ‘go green’. On a global level, our buildings and the construction process have an enormous impact on global climate change and pollution. On a personal level, we want our homes to work better for us – to be more efficient, healthier, and more adaptable to our changing lives.
The bailout has given us one additional reason to ‘go green’, let’s take advantage!