1500 Energy Tax Rebate on windows, doors, furnaces and skylights
As of February 2009, upto $ 1500 energy tax rebate can be claimed on the purchase of Energy Star doors, windows and skylight. This is an opprtunity to upgrade your home
The Tax Credit Guidelines
Here are the guidelines describing the points to pay attention to:
The $ 1500 energy tax credit is on purchase (not installation though) of doors, windows and skylights . The tax rebate is 30% of the goods value. The maximum tax credit is $1500.
To qualify, the windows, doors and skylight should have a U-factor and Solar Heat Gain Coefficient (SHGC) less than 0.3. You can see it on the label of the NFRC (National Fenestration Rating Council)
The $1500 1500 energy tax rebate is on all home improvements (roofing, insulation, etc.)combined, applicable to 2009 and 2010.
How to claim the 1500 energy tax credit
Purchase and install any replacement window, patio door, or entry door with a U-Factor and SHGC of .30 until December 31, 2010.
Claim your tax credit on your 2010 Federal tax return
If you already purchased and installed eligible windows and doors in 2009 and you retained the receipts and NFRC labels - claim you tax credit on the 2009 tax return
The certification mark in the upper left-hand corner of the label indicates that the product has been certified in accordance with NFRC standards. In the upper right-hand corner is a description of the product provided by the manufacturer. The bottom of the label gives the address of the NFRC web site as a source for additional information.
Rating of Windows
U-factor measures how well a product prevents heat from escaping a home or building, and generally falls between 0.20 and 1.20. The lower the U-factor, the better a product is at keeping in heat. Solar heat gain coefficient (SHGC) measures how well a product blocks heat from the sun. SHGC is expressed as a number between 0 and 1. The lower the SHGC, the better a product is at preventing unwanted heat gain
You can buy windows, doors, skylights and furnaces until December 31st 2010 for $5,000 and get back $1,500 as an IRS tax credit. Don't miss that opportunity. Your older windows may be subtly leaking through micro-cracks. If you notice excess condensation or leaks near your windows, the reason might be that moisture is getting into your walls. This is the time to replace the windows; your energy bills will get down, you will avoid mold build up and the IRS will participate in the investment
