Owens Corning
NYSE : OC

Owens Corning

July 18, 2011 08:30 ET

Canadians Offered a Second Chance to Save Money on Home Renovations from June 6, 2011 to March 31, 2012

Owens Corning Welcomes the Approved $400 Million Budget to Extend the ecoENERGY Retrofit-Homes Program

TORONTO, ONTARIO--(Marketwire - July 18, 2011) - One in twenty homeowners1 have taken advantage of grants worth up to $5,000 provided by the ecoENERGY Retrofit – Homes program since its introduction in April 2007 until the announcement of its withdrawal in March 2010. As such, the news that the reinstatement of the ecoENERGY Retrofit – Homes program has been approved should come as a welcome relief to Canadian homeowners looking to make their homes more energy efficient.

"With over seven million under-insulated attics in Canada, Owens Corning is delighted that the ecoENERGY Retrofit – Homes program has been extended," says Ric McFadden, Vice President of Building Materials at Owens Corning Canada. "We know the grants made available to homeowners will encourage Canadians to make the necessary improvements to their homes, allowing them to save both money and energy over time."

Using energy efficient products for renovations, such as EcoTouch™ PINK™ FIBERGLAS® Insulation batts and/or AttiCat® Expanding Blown-In Insulation System will make homes eligible for the ecoENERGY Retrofit grants, enabling the homeowner to save on heating costs.

Homeowners and owners of multi-dwelling units can once again claim a tax credit, simply by investing in renovation projects that will make their home more energy efficient, allowing them to save money over time. Under the recent ecoENERGY Retrofit – Homes program; attic reinsulation could be off-set with government grants. Eligibility criteria and other program details can be found on the ecoAction website.

"Attic re-insulation in particular is an easy DIYer renovation project for any homeowner," says David Flood, insulation expert at Owens Corning. "It can be done in a matter of hours with AttiCat™ Expanding Blown-In Insulation System, for maximum energy efficiency (R-50) top up attic to 18 ½". Or top up to 15" with EcoTouch™ PINK™ FIBERGLAS® Insulation batts. Re-insulation helps reduce energy consumption and cuts down on heating and cooling costs – savings all year long."

Not only can an attic re-insulation project be budget-friendly, it can also help protect the environment. An attic insulated to the recommended standard R-50 will save a half-ton of greenhouse gas emissions every year, year after year 3 EcoTouch™ PINK™ FIBERGLAS® Insulation is made from 99% natural4 materials and over 705per cent recycled content, the highest amount of recycled content in the industry. And it is third party GREENGUARD Indoor Air Quality Certified(SM)and is verified to be formaldehyde free+.

The ecoENERGY Retrofit – Homes program also offers grants to low-rise residential property owners, including owners of single detached and attached homes (e.g. row housing, duplexes and triplexes), small multi-unit residential buildings, four-season cottages, mobile homes on a permanent foundation and permanently-moored floating homes.

For more information about the ecoENERGY Retrofit program, and to learn how you can qualify, please visit the Natural Resources Canada website at ecoaction.gc.ca/homes or showmethegreen.ca.

To learn more about insulation and home renovation ideas, visit www.owenscorning.ca.

About Owens Corning

Owens Corning (NYSE:OC) is a leading global producer of residential and commercial building materials, glass-fiber reinforcements and engineered materials for composite systems. A Fortune® 500 Company for 56 consecutive years, Owens Corning is committed to driving sustainability by delivering solutions, transforming markets and enhancing lives. Founded in 1938, Owens Corning is a market-leading innovator of glass-fiber technology with sales of $5.0 billion in 2010 and about 15,000 employees in 28 countries on five continents. Additional information is available at www.owenscorning.com.

1 According to http://oee.nrcan.gc.ca/residential/personal/retrofit-homes/questions-answers.cfm#em1.
3 Based on an average attic size of 1700 SF with existing R19 insulation, averaged over seven cities in Canada.
4 Made with a minimum of 99% by weight natural materials consisting of minerals and plant-based compounds.
5 Minimum 70% Recycled Glass Content, with at least 60% Post-consumer Recycled and the balance (10%) Pre-consumer Recycled Glass. The colour PINK is a registered trademark of Owens Corning ©2011 Owens Corning. All Rights Reserved.
+ This declaration may only be used with products that have been verified to be formaldehyde free by GEI. The formaldehyde free mark may not be used alone. It must accompany the appropriate GREENGUARD Certification mark.

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