What You Need to Know About the 2023 Insulation Tax Credit

Epic Spray Foam- Tax Credit

Here at Epic Spray Foam, we’ve received a lot of questions about the new Insulation Tax Credit since it went into effect on January 1, 2023. When you combine this incentive with all the other energy-saving, cost-cutting benefits of spray foam insulation, the decision is a no-brainer! 

Here’s what you need to know about the tax credit and how you can take advantage of it this year. 

About the Insulation Tax Credit

  • The credit is effective for products purchased and installed after January 1, 2023.
  • U.S. residential homeowners can claim 30% of product costs, with a maximum credit amount of $1,200. 
  • This must be an existing home & your principal residence. New constructions and rentals do not qualify. 
  • Only materials that meet the requirements established by the Department of Energy are eligible for the credit. Products that qualify include Spray Foam,  blow-in fiberglass, rigid boards, weather stripping, and air-sealing caulk. 
  • This credit can be combined with other energy efficiency credits, for a total max credit of $3,200 per year. 

How To Claim The Credit 

  • Learn more details and exact qualifications for the credit on the Department of Energy website.
  • Make sure you notify your tax professional about your qualifying insulation purchases. 

The Benefits of Spray Foam Insulation 

It’s the most environmentally friendly, energy-efficient option. 

  • If your attic isn’t properly insulated, your HVAC has to work harder to keep your home comfortably cool in the summer and warm in the winter. This is also referred to as the Stack Effect
  • Spray Foam can save you money on your energy bills year-round. In fact, according to a  recent Department of Energy study, homeowners who installed spray foam insulation saved an average of 20% on their heating and cooling costs.

It helps keep your home quiet, clean, and comfortable. 

  • Spray foam insulation improves your home’s indoor air quality. It creates a much better moisture and air barrier than traditional insulation, reducing the number of allergens, such as pollen, mold, and mildew, that enter your home. 
  • Spray foam also cuts down on noise pollution, preventing sound from traveling from outside and between the noisiest rooms in your house. 
  • Spray foam insulation serves as an effective barrier for pests, keeping insects and rodents (and the harmful germs and expensive property damage that come with them) from entering your home by tightly sealing up cracks or holes.  

With all these benefits in addition to the increased tax credit incentive, there’s never been a better time to invest in spray foam insulation for your home! 

To learn more about Epic Spray Foam's services, make sure to get in touch with us at (833) 362-6489 or schedule your free estimate today!

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