SUMMARY
This Idea Brief proposes making the energy-efficient home improvement tax credit advanceable to provide an immediate rebate to homeowners and spur the purchase of energy-efficient products.
The American Recovery and Reinvestment Act included a generous boost in the tax credit for energy-efficient home improvements, but in an uncertain economy consumers may not be willing to spend more up front for efficient products and then wait until tax time to receive the credit. This creates an economic barrier for middle class families eager to realize the long-term benefits of reduced energy use and savings on utility bills that result from energy-efficient home improvements. This Idea Brief proposes to address that challenge by making the existing tax credit advanceable to help increase sales of energy-efficient products by providing consumers with immediate price relief and ensuring a swift return on their investment.
