2009-2010 Energy Tax Credit Facts
On February 17th, Congress passed American Recovery and Reinvestment Act of 2009 part of the $789 billion economic stimulus bill that includes tax credit incentives for homeowners who purchase qualified products and make energy-efficient home improvements. The bill provides tax credits through the 2010 tax year on energy-efficient home improvements—and that includes Window City windows and doors!
The American Recovery and Reinvestment Act of 2009 allows homeowners to receive a tax credit of 30 percent of the cost of qualifying energy-efficient products up to a maximum of $1,500 per household for all improvements made in 2009 and 2010.
To qualify for the new energy tax credit the program requires homeowners to meet the following criteria:
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The purchase of the qualified windows must be made during the taxable year for which the credit is being claimed.
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Windows purchased must be equal to or below a U-Factor of 0.30 and a Solar Heat Gain Coefficient (SHGC) of 0.30.
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The credit is only allowed on the price of the qualified windows themselves, not on installation costs, delivery or sales tax.
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This tax credit is capped at a total of $1,500 for the years of 2009 and 2010.
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The tax credit is allowable only for qualified window units placed in service in 2009 and 2010.
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Homeowners are required to save their receipts for their windows purchased along with all window labels and stickers for verification and tax recordkeeping.
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Manufacturers are required to provide statement listing the qualified products to be retained by the homeowner for their records. Click here to view Manufacturers Statement for US 30/30 requirement (PDF Format)
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The windows must be installed in the taxpayer's principal residence.
Claiming your Tax Credit:
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Request an invoice demonstrating the cost breakout of the window or door components from your contractor. This cost must exclude the cost of onsite preparation, assembly, original installation labor, other components or sales tax.
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Retain the ENERGY STAR/NFRC label from your qualified window or door.
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Keep the contractor invoice and NFRC labels with your tax files. You are not required to provide this documentation to the IRC, but you will be required to present it if audited
ENERGY STAR® is a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy helping us all save money and protect the environment through energy-efficient products and practices. Check out http://www.energystar.gov/index.cfm?c=tax_credits.tx_index for more information on the available federal tax credit when you purchase energy-efficient windows and doors. |
