Written on April 15, 2009 by rpappalardo
Simplifying the Tax Credit for Energy Efficient Windows
The recent Stimulus Bill gives good reason for homeowners to make energy efficient improvements to their home in 2009 & 2010! The bill includes Tax Credits for efficient windows, doors, and skylights that are replaced in a homeowner’s primary residence. The amount of the tax credit that can be claimed is 30% of the purchase price up to a maximum credit of $1500. This results in a huge savings for the homeowner, in addition to any other offers and promotions currently offered by retailers.
Let’s review the basic criteria to look for to ensure your purchase is covered:
- Installed in 2009 & 2010
- Primary Residence
- NFRC Certified Energy Ratings of:Â U-Factor of .30 or less & Solar Heat Gain Coefficient (SHGC) of .30 or less
Let’s look at an example NEWPRO Windows NFRC label which qualifies:
The top two (2) values shown on the label represent the important information referred to within the Stimulus Bill as it relates to the Tax Credit. The U-Factor is shown as .19 which is less then the .30 criteria shown above. Additionally, the Solar Heat Gain Coefficient has a value of .27 which is also below the criteria of .30. This window qualifies for the Tax Credit!
We recommend that homeowners who make a qualifying purchase keep the manufacturers certification statement for their records. However, this statement is not required when filing a tax return. Currently, the IRS form is not yet available. Expect IRS Form 5695 to be available late 2009. Please check back for more information regarding the forms required to apply for the credit.
More information on the Tax Credit for new windows and other energy improvements can be found here:
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The Alliance to Save Energy site: www.ase.org/content/article/detail/2654
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The ENERGY STAR site: www.energystar.gov/index.cfm?c=products.pr_tax_credits
If you have any questions or require additional information concerning the tax credit, please contact us at 866-573-8310 or e-mail questions@newpro.com.
Tim
While they let light in, they let money out. Straight out of your wallet into the Energy Companies hands. Here is an other article about energy efficient windows http://www.sierraclubgreenhome.com/go-green/windows-skylights-and-doors/windows-skylights-and-doors/
Salt Lake City Garage Door Repair
This credit is also good for garage doors.
Boston Garage Door Repair
Charles
That is a great article. These tax credits can also be used to offset the cost og geothermal systems that can provide hot water, heating and air conditioning.