Inflation Reduction Act Offers Energy-Efficient Home Improvement Credits

 

The Inflation Reduction Act (IRA), signed into law by President Joe Biden, is a legislative collection of documents designed to diminish climate change, reduce the federal deficit, lower costs for families, and raise taxes on large corporations. 

While taxes and healthcare are important, the renewable energy sector is poised for growth through homeowners looking to remodel or improve their space. Home improvement and remodeling industries will see specific clean and renewable energy tax provisions as outlined by the IRA for the next ten or more years.

Energy-Efficient Home Improvement Credit
The Nonbusiness Energy Property Credit (NEPC), which expired at the end of 2021, will be revitalized and renamed the Energy-Efficient Home Improvement Credit (EEHIC). The EEHIC will offer homeowners higher tax incentives for qualifying home improvements, including energy-efficient appliances, insulation, windows, doors, roofing, etc. The credit will be up to 30 percent of all eligible home improvement costs made during the year, with a $1,200 annual limit. 

After 2024, EEHIC credits will only be allowed if the product manufacturer creates a specialized identification code, which the taxpayer claims by using that code on their federal tax return.

Residential Clean Energy Credit
Another revitalized tax credit under the IRA is the Residential Energy Efficient Property Credit (REEPC), now renamed the Residential Clean Energy Credit (RCEC). The RCEC gives a 30 percent credit for installing qualifying green-energy systems such as solar, wind, geothermal, biomass, or fuel cell power for heat, air conditioning, electricity, and more.

High-Efficiency Electric Home Rebates
The IRA offers a High-Efficiency Electric Home Rebate Program aimed at lower- and middle-income families. Potential buyers who make 80 percent or less of their area’s residential median income can qualify for a wide range of tax rebates for water heaters, area heating or cooling, stove tops, breaker box upgrades, insulation, electric wiring, etc. A few stipulations do exist, though, which include the percentage ratio between the cost and the family’s income, the total amount of rebates, and more. 

Are you looking to update your home or office to be more environmentally friendly and energy efficient? Call JFC remodeling to help lower your carbon footprint. 

JFC Remodeling is committed to providing top-quality home reconstruction services to clients throughout Livingston County. With over 30 years of experience in the industry, our licensed contractors create unique, individualized, and polished renovations. Whether the site requires an improvement, repair, or is a new construction, you can trust our experts to deliver remarkable results. Call or email us to learn more.

Written by the digital marketing team at Creative Programs & Systems: https://www.cpsmi.com/ 

Kitchen Remodeling Timeline

The average kitchen remodeling project can take anywhere from three to six months to finish. More significant kitchen remodels can take longer, sometimes more than a year. These estimates range in duration depending on the overall scope of the renovation. 

Kitchen remodels involve changes in plumbing, electrical wiring, new appliances, cabinets, countertops, backsplash, floor plans, and more. The overall timeline can shift contingent on the project’s overall complexity. 

Organization is vital to ensure a kitchen remodel goes smoothly and efficiently. Creating a concise, accurate budget, ordering materials and products in advance, and confirming the specifics prior to demolition is imperative. 

While planning can be tedious, the end result will yield a timely remodel. It takes roughly a month of planning with the architect, interior designer, and contractor to prepare before demolition. Materials will need to be ordered, and global shipping is still suffering delays due to Covid-19, which is one reason the project needs to be planned accordingly.

Kitchen remodels are much more complex than a typical remodel due to all of the different moving parts. Specific design features and color schemes can take time to plan, order, and install. 

Generally, kitchen remodeling timelines can be summarized as follows:

1.       Envision and set goals

2.       Create a budget

3.       Find a contractor and designer

4.       Apply for building permits

5.       Order all appliances, cabinets, tiling, etc. 

6.       Start demolition

7.       Begin rough-in plumbing and electrical

8.       Install drywall and flooring

9.       Mount cabinets, countertops, appliances, backsplash, fixtures, etc.

There are countless aspects to a kitchen remodel, and to keep the stress level down; it’s imperative to set aside the time to properly plan and gather information before setting expectations.

If you or someone you know is looking for a kitchen remodel, contact the experts at JFC Remodeling today.

JFC Remodeling is committed to providing top-quality home reconstruction services to clients throughout Livingston County. With over 30 years of experience in the industry, our licensed contractors create unique, individualized, and polished renovations. Whether the site requires an improvement, repair, or is a new construction, you can trust our experts to deliver remarkable results. Call or email us to learn more.

Written by the digital marketing team at Creative Programs & Systems: https://www.cpsmi.com/ 

Climate Change Preparedness for Houses

 

Make sure your home can adapt to climate change before it succumbs to the dangers of global warming and climatic variations. A recent report by First Street Foundation found that 8.1 million U.S. residents are expected to undergo temperatures as high as 125 degrees Fahrenheit by 2023. By 2053, more than 107.6 million Americans could live in an extreme heat belt. 

With climate change comes more natural disasters, such as hurricanes, which cause severe damage to homes through high winds and flooding. One in three homeowners has already experienced dealing with repairing the damage done by extreme weather or other climate change issues. Still, only 40 percent have been proactive enough to guard themselves and their homes against future damage.

Keep reading to discover some tips to help your home withstand climate change and severe weather events. Protect yourself and your family from harm by adapting some of the ideas below.

Extreme Heat
Too much heat and humidity can actually cause mold and warping of wood floors, which is extremely costly to remedy.  To protect your house from extreme heat, upgrade your insulation to the most efficient type on the market: spray-foam insulation. Then, upgrade your windows with double- and triple-panes, which offer superior protection than single-paned. Siding should also be considered since stucco is sturdier than vinyl in high temperatures. Upgrade your HVAC system or install a whole-home dehumidifier to help reduce humidity and keep costs down. Lastly, add ventilation fans in your attic to ensure adequate air exchange.

Hurricanes
Giving your house a double whammy with severe wind and extreme flooding, hurricanes are natural disasters of high magnitude and should not be taken lightly. Ensure your roof is tightly secured without loose shingles or weak spots. Metal roofs are safer than shingles for hurricanes but are more expensive. Installing storm shutters and doors is imperative to protect your home from hurricanes. Broken glass can cause a lot of damage. Consider upgrading your garage door to a storm-rated type, which is double-reinforced. Finally, remove all dead trees and plant new trees far away from your house to prevent potential future damage.  

Floods
Houses in low-lying areas are especially susceptible to flooding, and climate change is causing an increasing amount of ice to melt, resulting in more Earthly water. Investing in a sump pump and flood vents is one of the most important things a homeowner can do to protect it from flood damage. Sump pumps remove excess water, and flood vents prevent hydrostatic pressure buildup. If you live in an area that loses power often or is prone to storms, invest in a whole-home standby generator to ensure your sump pump and other imperative appliances continue to work through outages. Seal basement walls every few years to keep water out and protect the home from major storms. 

Interested in making some upgrades to your home? Contact JFC Remodeling for a free estimate today!

JFC Remodeling is committed to providing top-quality home reconstruction services to clients throughout Livingston County. With over 30 years of experience in the industry, our licensed contractors create unique, individualized, and polished renovations. Whether the site requires an improvement, repair, or is a new construction, you can trust our experts to deliver remarkable results. Call or email us to learn more.

Written by the digital marketing team at Creative Programs & Systems: https://www.cpsmi.com/