According to new data released by the U.S. Treasury Department, for the 2023 tax year, more than 3.34 million U.S. taxpayers claimed at least one of the home energy efficiency tax credits made available in the Inflation Reduction Act (IRA). In all, more than $8 billion in residential clean energy and home energy efficiency credits were claimed against 2023 federal income taxes.
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NAIMA recently announced the result of its annual recycled content survey, which reports its members’ use of recycled materials. In 2023, NAIMA members in the United States and Canada used more than 3 billion pounds of recycled glass and slag in the production of residential, commercial, industrial, and air-handling thermal and acoustical insulation.
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Insulation is one of the best ways to reduce home energy costs, with a national opportunity to save 15 to 45 percent on costs, according to ICF’s Insulation Opportunity Study. With the unprecedented heat making energy costs increasingly unaffordable for all Americans but particularly low-income Americans, this cannot be overstated. A new report from the National Energy Assistance Directors Association (NEADA) and the Center for Energy Poverty and Climate (CEPC) underscores the need to rapidly expand energy assistance programs and weatherization activities to reduce the cost burden to these communities.
