Now more than ever homeowners are trying to find ways cut costs and maximize savings. Most people know that turning off lights and appliances when not in use will save energy; but who knew a properly sealed roof could generate tax benefits when done properly?
According to Commonwealth Foam, a foam insulation company in Richmond, Va.; there are substantial tax credits for improvements made to a home or business that saves energy output. The credit is $1.80 per square foot for owners or designers that modify a building and save 50% or more of the heating and cooling costs.
One of the fastest ways to do this is to seal your rooftop with a combination of spray foam insulation and a white acrylic coating to seal the building completely. This helps reflect heat away from your home or business, and can save energy up to 30 percent. By taking this measure in combination with overall home insulation in Richmond, a home or business is using substantially less heating and cooling, which is why the tax credits were created. Even if a home hasn’t cut the usage by the full 50 percent, there are still prorated credits of up to .60 per square foot for overall efficiency improvements.
Spray Foam insulation in Richmond has been available for decades but is gaining in popularity because of the recent demand for energy efficiency and durability. It is quick to apply, and lasts much longer than the traditional insulation of the past— fiberglass. Rich Gajarsky of Commonwealth says it can last up to 50 years, versus fiberglass that has a lifespan of about 10-20 years. It is important to note that spray foam does need to be handled by a “licensed applicator” to be successful. Spray foam expands as it is applied, and fills small holes and crevices that may be hard to reach otherwise. By sealing the home completely, it is easier to keep heat or air conditioning inside, depending on what is needed by season.
Some of the additional advantages to a spray foam insulated roof are:
● Water resistance
● Prevention of mold and mildew
● Reduced installation time
● Improved wind resistance
● Easier repair than with traditional roofing
Another consideration is the value of your home or business when it is time to sell. Gajarsky says he has heard that every dollar saved in energy translates to $20 in a home’s value. That’s according to a case study from 1996, so by now the savings could be even more valuable. In addition to sizable tax credits, there are many reasons for consumers to consider spray foam insulation for their next home or office renovation. Commonwealth Foam can help give advice, and install this type of foam insulation for interested residents in Richmond.