Only One Month Left for Consumers to Capitalize on Home Energy Efficiency Improvement...

Only One Month Left for Consumers to Capitalize on Home Energy Efficiency Improvement Tax Credit

Federal Tax Credit Expires December 31; Johns Manville Provides Homeowners List of Top Five Projects to Take Advantage of Credit

Before Time Runs OutDENVER--(Business Wire)--U.S. homeowners have just one month to utilize a soon-to-expirefederal tax credit aimed at encouraging home energy efficiency. Thetax credit, created by the Energy Policy Act of 2005, allows for a taxcredit of up to 10 percent of the cost of materials for certain homeimprovements, including installing ENERGY STAR(R)-qualified windows,attic insulation or air sealing products. This part of the act, whichoffers a tax credit of up to $500 per household, was not extended byCongress this year. While it appears that many homeowners are aware of the federal taxcredit, only 23 percent had actually taken advantage of it during2006, according to a survey conducted earlier this year by OpinionResearch Corporation, an independent research firm, on behalf of JohnsManville, the Denver-based building products manufacturer. The surveyalso found that only 32 percent of homeowners believe that their homeis energy efficient, despite the fact that 78 percent of homeownersreported that their 2006 heating and cooling costs had increased. As consumers scramble to take advantage of the credit before itexpires, Johns Manville has created a list of five ways homeowners canreap the most economic benefits from the tax credit while improvingthe energy efficiency and comfort of their homes.

Top Five Ways to Take Advantage of the Home Energy Efficiency

Improvement Tax Credit #1 - Add attic and/or basement insulation. The U.S. Department ofEnergy estimates that 40 percent of all air leaks in the average homeare in the attic, and homeowners can expect to see up to a 30 percentsavings on heating and cooling costs with a well-insulated andair-sealed home. Adding insulation is one of the easiest and mostcost-effective ways for homeowners to take advantage of the taxcredit. By purchasing insulation, homeowners can improve their home'sthermal envelope and decrease monthly energy bills for an immediatereturn on investment. A majority of homes in the U.S. areunder-insulated, and most need up to 18 inches of attic insulation toguarantee proper thermal efficiency. #2 - Install or replace exterior windows and skylights withenergy-efficient versions. All ENERGY STAR-qualified windows andskylights are eligible for the tax credit and aid the overall energyefficiency of a home by keeping out extreme temperatures andmaintaining the overall comfort of a home. The maximum tax creditbenefit for installing windows or skylights is $200. #3 - Trade in older storm doors and exterior doors for newer,energy-efficient versions. An older or poorly insulated exterior doorcan significantly contribute to air leakage. By replacing the exteriordoor or adding a storm door to an existing door, homeowners can bettermaintain the overall temperature of a home and reduce cold drafts orenergy leaking out of the home. #4 - Replace an old furnace. Homeowners can replace an existingfurnace with a replacement gas or oil furnace with an Annual FuelUtilization Efficiency (AFUE) rating of 95 percent or higher.Purchasing an energy-efficient furnace reduces the impact of energypollution and promotes cleaner air quality while enhancing the comfortof a home. #5 - Install a solar energy system. While the overall investmentis greater, purchasing solar photovoltaic systems or solar waterheaters offers a tax credit of 30 percent (up to $2,000) of the costof materials and carries the greatest tax credit available. Solarenergy systems provide homeowners with a low-cost alternative totraditional energy sources by generating energy directly from sunlight. Systems must be placed in service between January 1, 2006 andDecember 31, 2007. The home energy efficiency improvement tax credit was created aspart of the Energy Policy Act of 2005 in response to record highenergy prices. According to the U.S. Energy InformationAdministration's Annual Energy Outlook 2007, energy prices areexpected to steadily increase through 2030. To redeem the federal energy efficiency home improvement taxcredit, homeowners must provide a Manufacturer's CertificationStatement, purchase receipt and use IRS Form 5695. For moreinformation regarding qualifying products, visit JMHomeowner.com orthe Alliance to Save Energy Web site. "Homeowners will receive an immediate and continuous return byimproving upon their home's energy efficiency," said Scott DeShetler,marketing communications manager for Johns Manville's InsulationSystems Group. "Insulation provides relief from rising energy costs,and it also adds to a home's value when it comes time to sell.According to the U.S. Energy Information Institute, adding insulationand air sealing increases a home's resale value, and 55 percent ofAmericans are willing to pay more for a home with energy-efficientfeatures." Installing insulation in an attic can be an easy, do-it-yourselfproject for even the most novice weekend warrior. Homeowners can alsohire an insulation contractor to complete the project, althoughinstallation costs cannot be deducted as part of the energy taxcredit. JMHomeowner.com provides a complete list of products andinstallation tips, as well as a contractor locator to locate acertified contractor in their area. Homeowners can also utilize a number of tools to assess a home'soverall energy efficiency and identify home-improvement projects toimprove the energy-efficiency performance of their home.JMHomeowner.com offers a Home Energy Analysis tool for consumers toevaluate their home's energy efficiency through a step-by-stepevaluation of their home's specifications and provides the homeownerwith a report that includes a series of recommendations to increaseenergy. ENERGY STAR provides information on performing a"do-it-yourself" energy audit with the Home Energy Yardstick, usingbasic home information and past utility bills. A professional homeenergy auditor can also be hired to provide specific recommendationsto improve energy efficiency using a variety of evaluation techniquesand equipment. For more information on locating a Home Energy Rater,visit the Web site or contact your local electric or gas utilityprovider. About Johns Manville Johns Manville, a Berkshire Hathaway company (NYSE: BRK.A, BRK.B),is a leading manufacturer and marketer of premium-quality building andspecialty products. In business since 1858, the Denver-based companyhas annual sales in excess of $2 billion and holds leadershippositions in all of the key markets that it serves. Johns Manvilleemploys approximately 7,800 people and operates 41 manufacturingfacilities in North America, Europe and China.Johns ManvilleScott DeShetler, 303-978-3111Scott.DeShetler@JM.comorLinhart Public RelationsWill Shanley, 303-951-2563wshanley@linhartpr.comCopyright Business Wire 2007