S PE C I A LT Y N E W S & T R E N D S
Green Tax Credits generated sales of almost $57 billion, according
to a study released by the Freedonia Group,
Inc., a Cleveland-based industry research firm.
Although green building materials are expected
to account for an increasing share of materials
used, growth will be driven primarily by the
recovery of the residential market.
xpanded tax credits for energy-efficient Pro Energy provides technical, operational Consumer Financing
E home improvements in the new economic
stimulus package are expected to provide
and marketing support, as well as training. The
total initial investment, including the franchisee GE Money/NKBA to Offer Credit
additional financial incentive for homeowners to fee, is $35,000. GE Money and the National Kitchen and
go green on their renovation projects in 2009 and Bath Association (NKBA) announced a multi-
2010, according to the NAHB Remodelers. year relationship to provide consumer financ-
Congressional estimates indicate that the new ing. The Home Design program, a revolving
rules for the tax incentive will increase aggregate Lead Abatement credit program backed by GE Money’s Sales
remodeling activity by more than $6 billion. Finance unit, is now available nationwide
The Internal Revenue Code section 25C tax First Part of EPA Rule Implemented through NKBA dealer, designer and builder/
credit for existing homes, which had expired at the Contractors perform- remodeler members.
end of 2007, was reinstated as part of the economic ing renovation, repair Programs are available for both product
rescue package passed by the Bush Administration and painting work purchases and customers making purchases that
last fall. However, remodelers found that the terms that disturb lead-based involve a larger kitchen or bath project. The
of the 25C credit — equal to only 10 percent of paint are required (as of credit program does not require transaction fees
the cost of each product and with a lifetime cap December 2008) by the on standard sales.
of $500 — weren’t strong enough to push enough Environmental Protection
homeowners off the fence and into action.