The American Recovery and Reinvestment Act of 2009, otherwise known as the stimulus package, created tax benefits for those who purchase qualifying energy efficient products. These products include certian windows, doors, and skylights.
There are a few key things to keep in mind, however, when purchasing fenestration products with the intention of taking the tax credit.
First, the credit is available throughout 2010. Second, the maximum credit is 30% of costs, not to exceed $1500. Also, keep in mind that installation costs are excluded. Third, not all windows, doors, and skylights will qualify.
To be sure the products you are considering will qualify for the tax credit, check the National Fenestration Rating Council’s (NFRC) label. Both the U- factor and the Solar Heat Gain Coefficient (SHGC) must be 0.30 or less.
Finally, please remember this is a tax credit and not a rebate. Purchasers of qualifying fenestration products will not receive a rebate check. Instead, they may be able to deduct up to $1500 from their taxable income.
Further information regarding the tax credit is available on the ENERGY STAR Website.
Wednesday, January 20, 2010
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