The Inflation Reduction Act of 2022 reinstated the 25C residential homeowner tax credit for insulation and air sealing through 2022. Until Dec. 31, 2022, homeowners may be eligible for a federal tax credit up to $500 or 10% of their purchase of insulation to their main home, whichever is lower.

Starting January 1, 2023, the legislation increases the 25C tax credit and makes it valid from Jan. 1, 2023 through Dec. 31, 2032. Taxpaying homeowners can receive a federal tax credit up to 30% of their purchase, up to $1,200. A tax credit reduces the tax owed, dollar for dollar.

Additionally, Chicago Green Insulation is able to install solar panels to dramatically increase the saving opportunities for you by allowing home owners that are purchasing solar panels to also purchase from us and install solar panels with their foam insulation and receive a 30% Federal Tax Credit and additional savings on the month over month utility bills for the life of the home AND all of that work can be financed for up to 30 years for homeowners with good credit!  This incentive is only available to families doing both solar and spray foam insulation (For all tax related questions, please consult your tax professional for clarification on how this works.  If you would like to talk to our tax advisors, please call us to arrange for that conversation.). This incentive has already started so no need to wait until January 2023!