Inflation Reduction Act
Resources for builders, architects, building owners and homeowners
On August 16, 2022, the monumental Inflation Reduction Act was signed into law. The largest and most aggressive bill in U.S. history to focus on energy and climate reform, more than $300 billion will be invested in energy tax incentives, increased clean energy production and tax credits aimed at reducing carbon emissions.
To capitalize on the incentives outlined in the Inflation Reduction Act, many are mobilizing ultra-low global warming potential (GWP) spray foam products like SealTite PRO HFO in new construction and retrofit projects.
In doing so, builders, architects, building owners and homeowners can take advantage of extended and expanded incentives through energy-efficient building practices.
CSFI Can Help Builders
Builders can take advantage of incentives for new single family and multifamily construction thanks to the Section 45L tax credit. To access credits, builders must align with the Energy Star and Zero Energy Ready Home air filtration requirements.
HFO SPF products control air leakage better than traditional insulation materials, forming a precision-fit seal in any crack, crevice, or gap. By constructing a tight thermal envelope, builders can deliver an energy-efficient home that keeps homeowners comfortable.
CSFI Can Help Architects & Building Owners
Architects and designers of energy-efficient buildings can benefit from the updates to Section 179D, which incentivizes commercial building owners to invest in energy-efficient new construction and retrofits. Beginning in 2023, all tax-exempt building owners will be able to pass the deduction to groups who greatly influence building design. Under previous law, only government building owners were allowed to allocate these funds. For the architect or designer, the reason to specify an ultra-low GWP SPF product has never been more important.
CSFI Can Help Homeowners
The Inflation Reduction Act includes critical tax credits aimed at helping American households save on rising energy costs. For example, homeowners that upgrade and retrofit their home heating and cooling systems can benefit from the IRA’s energy-efficient home improvement credit. The credit is available for the installation of new doors, windows, insulation and more. SealTite PRO HFO is the newest environmentally responsible spray foam insulation product on the market for home energy efficiency, which means homeowners can capitalize on such credit programs.