BALTIMORE — As high temperatures drive up air conditioning use and energy bills, experts say proper home insulation can help maintain comfort while reducing costs. However, a valuable tax credit for insulation materials is set to expire soon.
"Insulation is part of what we call the building envelope," said Patrick Kiker of the North American Insulation Manufacturers Association. "Having a really good building envelope is incredibly important to maintaining comfort because in the summer it keeps the heat out, and in the winter it keeps the cold out as well."
The cost to insulate an attic can range from $1,000 to $7,000 per 1,000 square feet, making tax incentives particularly valuable for homeowners looking to improve efficiency.
The 25C tax credit for insulation materials will expire at the end of this year.
"The 25C tax credit reimburses Baltimore homeowners 30% of the cost of qualifying insulation and air sealing materials, up to about $1,200 annually," Kiker said.
Homeowners don't need to hire professionals to qualify for the credit, as it applies to the materials themselves, making it DIY-friendly.
"You want to maintain all of your receipts, and then you want to, when you file your taxes next year, include that in your taxes and you'll receive the rebate," Kiker said.
Most homeowners would likely benefit from adding insulation, according to industry data.
"89% of US homes are under insulated according to recent reports," Kiker said. "And so that almost certainly includes your home if you have an existing home. So we encourage you, as a first measure, go up into your attic and take a look at your insulation. You almost certainly do not have enough."
While the federal tax credit expires at the end of this year, other incentives are available through Empower Maryland.
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