Will the economic stimulus package help the industry?
Leaving all the politics aside, President Obama's economic stimulus package has, in my opinion, some pretty decent provisions for the window and door industry. Could it be more? Sure. But it's certainly better than the menial incentives we've had for energy efficiency upgrades in the last few years.
The stimulus bill includes language that gives homeowners a credit of 30 percent of the cost of qualifying energy efficient upgrade up to a maximum $1,500 per household for 2009 and 2010. To qualify for the credit, the products must meet some strict energy efficiency requirements: Windows, doors and skylights will need to have a u-factor at 0.30 or below and SHGC at 0.30 or below to earn the 30 percent. Still, this is much better than the $200 for windows and $500 for doors we've had in previous years.
(Editor's note: There is some confusion about what products will qualify for the credits. We will keep you posted on what we learn but here's the wording of the bill broken down into a chart on the Energy Star Web site. Not all Energy Star-rated products will qualify for the credits.)
Do you think $1,500 is a decent carrot? Will this credit, along with the homebuyer credits, get business moving again in the fenestration industry? Send me an email and share your thoughts.