The DOE will also launch its “Cash for Appliances” program.
October is National Kitchen & Bath Month, and new federal U.S. and
Canadian incentives will give more reason than ever for homeowners to remodel
their kitchens and bathrooms.
The NKBA reports that, inspired
by the success of the "Cash for Clunkers" program in August, the U.S.
Department of Energy will launch a “Cash for Appliances” program this fall,
providing nearly $300 million in stimulus funds from the American Recovery and
Reinvestment Act to consumers who purchase new energy-efficient kitchen
appliances.
In a statement announcing the plan, Energy Secretary
Steven
Chu said, "These rebates will help families make the transition
to more efficient appliances, making purchases that will directly stimulate the
economy and create jobs." This new rebate program is in addition to a
number of U.S.
tax credits on energy-efficient products for homes introduced earlier this
year. This includes many gas, oil, electric, and solar water heaters, which are
reimbursed at 30 percent of their purchase price, up to $1,500.
In Canada, a new Home Renovation Tax Credit (HRTC) has
been introduced by the Canada Revenue Agency toward eligible renovations made
to a homeowner’s primary residence. The program, which expires Feb. 1, 2010,
offers a 15 percent tax credit on home remodeling expenses over $1,000, with a
maximum credit of $1,350. The HRTC supplements Canada’s existing ecoENERGY
Retrofit Homes grant offered through Natural Resources Canada. This grant
provides up to $5,000 to homeowners who make renovations to their homes that
reduce energy consumption and provide for a cleaner environment.
"With so many government incentives now being
offered for home renovations, there has never been a better time for Americans
and Canadians to remodel their kitchens and bathrooms," said 2009 NKBA
President
Suzie Williford. "Many of these stimulus
programs won’t last long, however, so homeowners planning to remodel should
contact an NKBA member soon.”
Celebrated each October since its inception by the NKBA
in 1982, National Kitchen & Bath Month is an ideal time of year for
homeowners to remodel their kitchens and baths, after settling into the
back-to-school routine, but before holiday preparations take place, the
organization says.
A special toolkit for National Kitchen & Bath Month
is available to NKBA members that enables them to better market their business
to consumers throughout October. This kit contains logos, flyers, customizable
print ads, and a press release template.
Visit these sites for more information:
Source: The National Kitchen & Bath Association
