Past Year Encouraging For the Insulation Industry
Welcome to the first issue of Insulation Contractors Report for 2024! We are introducing a new quarterly publishing schedule this year. Our newsletter is an important piece of ICAA’s membership communication and another way we pursue our mission of educating and informing our members. Our website, particularly the Member Site, is another important way. It’s a member-only 24/7 online resource that includes archives, training programs, model programs and contracts, webinars, fact sheets, toolbox videos, and so much more.
This past year has been encouraging for the insulation industry. We have seen the results of our advocacy with the super-charging of the 25C Energy Efficient Home Improvement Tax Credit (I call it the “insulation tax credit”). The 25C tax credit can save up to $1,200 for homeowners who upgrade in 2024. Our industry lobbied for a long-term extenstion of the 25C tax credit, as it would provide market certainty for manufacturers, contractors, and consumers – and Congress and the President came through.
Recently, ICAA published a new 25C Tax Credit FAQ Flyer; a new Guide to Receiving Your Federal Tax Credit for homeowners; and a new 25C Tax credit Calculator for ICAA members to figure out the net project cost to the homeowner after the tax credit is applied. On the ICAA member website you will find a link to the most recent 25C webinar, and a variety of tax credit promotional materials – some of which can be customized with your logo and contact information.
Another piece of exciting news: in 2023, ICAA marked another excellent year for membership recruitment, with the addition of 62 new members, on top of the 68 new members we got in 2022.
Our commitment to our members remains my top priority as 2024 ICAA President, so be assured that you can expect the same exceptional educational and wide variety of exclusive offerings from us this year.
In February, we’ll begin a new series of 20-minute webinars dedicated to standard terms and conditions in the contracts we sign. We will address terms and conditions for new construction and for retrofit projects. Dealing with homeowners is a lot different than dealing with GCs, so we’ll make sure to offer guidance for both. Each month, we will parse the information into easy-to-digest bits, focusing on a few terms and conditions rather than the whole ball of wax at once.
Also in February, we will present a webinar on wrap-up insurance programs. These programs, known as Owner Controlled Insurance Programs (OCIP) and Contractor Controlled Insurance Programs (CCIP), present both problems and opportunities. We’ll sort these out and explain how CIP coverage is different than your own liability and workers’ comp insurance policies. We’ll also explain how you should modify your own insurance coverage when working under a CIP project.
Meanwhile, mark your calendar now for ICAA 2024, September 25-28, where we will be at the Sheraton Grand Chicago Riverwalk for our Annual Convention and Trade Show. I can’t wait to meet you there!
Stay warm,
Renee
