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
