Take Advantage of Tax Incentives with Efficient Windows and Doors from Renaissance
Welcome to the inaugural issue of the Renaissance Windows & Doors monthly newsletter. Our goal is to educate, inform and bring you the latest information available about our industry, store, and once in awhile, even our staff. Of course, we don’t want to fill your inbox with mail you don’t need; so feel free to click the "unsubscribe" link at the bottom of the email at any time, and we'll remove you from the subscriber list.
It’s nobody’s favorite topic, but in this edition, we’re going to talk about taxes. If you are thinking of replacing your windows or doors, make sure to do so before December 31, 2010 when the Consumer Energy Tax Incentives expire. According to The U.S. Department of Energy, consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in existing homes can receive a tax credit for 30% of the cost, up to $1,500, for improvements "placed in service" starting January 1, 2009, through December 31, 2010.
A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. Consumers can itemize purchases on their federal income tax form, which will lower the total amount of tax they owe the government. See EnergyStar.gov's Federal Tax Credits for Energy Efficiency for a complete summary of energy efficiency tax credits which are available to consumers.
While we do recommend installing ENERGY STAR qualified products, you should know not all are eligible for the federal tax credit. ENERGY STAR distinguishes energy efficient products which, although they may cost more to purchase than standard models, will pay you back in lower energy bills within a reasonable amount of time, without a tax credit.
In order to qualify for the credit, your replacement windows must have a SHGC and U-Factor of less than or equal to .3. A SHGC (Solar Heat Gain Coefficient) measures how well a window blocks heat from sunlight. The lower the SHGC, the lower the heat gain through a window. SHGC ranges from 0 to 1. The U-Factor measures how well a window, door, or skylight prevents heat from escaping. The lower the number, the more efficient the window. Ratings usually range from 0.20 to 1.20.
In addition to the standards for windows, doors also must meet IECC standards. These are the standards published by the International Code Council. The IECC sets forth compliance methods for energy-efficient construction of both residential and nonresidential construction.
Your authorized retailing installers at Renaissance Windows & Doors can show you a number of eligible windows and doors that will match your current style and tastes. Our qualifying lines include, Hurd, Showcase, and Infinity by Marvin. Infinity by Marvin replacement windows and doors are some of the strongest, most energy efficient on the market. With Low E-366 glass, they qualify for the federal tax credit and save you money on your energy bill. Better yet, they are virtually maintenance free!
We look forward to seeing you in our showroom, and hope you’ve enjoyed our first newsletter. With any luck, it will result in a $1500 credit come tax time! We invite you to visit our website for more information about all the qualifying brands we carry. Our weekly blogs are also a wonderful source of both general and specific information about windows and doors. Thank you for subscribing, and feel free to contact us with any feedback about how we can make our newsletters more relevant to you.