The use of tax credits to promote sustainable development: one in seven main residences renovated between 2005 and 2008
Thanks to tax credits for sustainable development, one in seven main residences underwent renovation work between 2005 and 2008. The number of new dwellings concerned rose rapidly to one million a year. In one out of ten main residences, the work was designed to control energy consumption. Two out of three dwellings involved were built before 1975. One in twenty main residences was outfitted with equipment using renewable energy. The number of solar panels, heat pumps, and wood-fired systems installed rose steeply, more than doubling in four years. The higher the household income, the more work performed. However, the value of work declared per square metre is comparable irrespective of income, averaging €60. Thirty-two percent of the amounts declared were returned to home-owners as tax credits.