The American Recovery and Reinvestment Act of 2009, signed by President Obama on February 17, 2009 has revised the Energy Efficient tax credit in some positive ways. These new additions/changes have created an amazing Win, Win, and Win again situation for homeowners to reap great tax benefits by upgrading to energy efficient windows AND cut down on energy costs at the same time.
However, before you go out and purchase the first Energy Star efficient windows that you come across make sure they qualify for the energy efficient tax credit as the standard have increased significantly.
Below is a break down of the new Energy Efficient Tax Credit:
- Energy Efficient tax credit has been extended to include both 2009 and 2010.
- The maximum tax credit is 30% of costs, not to exceed $1500.
- Windows must meet the following minimum standards (warning not all energy star rated windows qualify)
So how do you know what type of windows qualify? Be sure to check the windows' National Fenestration Rating Council (NFRC) label and make sure that the windows meet this minimum requirement of having both the U- Factor and Solar Heat Gain Coefficient (SHGC) are less than 0.30.
The picture below was obtained from BFRich GreenShield Window Systems website: http://www.bfrich.com/tax%20credit.html- The BFRICH GreenShield Window Systems are energy star rated and qualify for tax credits in all 50 states.
For information about the Knoxville, TN real estate visit www.HomesForSaleKnoxville.com
Interested in learning more "Green Tips" and "Green Inforamtion"? Check out our other Eco-minded Blogs:
How to Exorcize the Vampire and Monsters in your Life- the "dangers" of phantom energy sources
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Visit Christine McInerney and Jennifer Halinkowski with Southland GMAC Real Estate on-line at:
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Office: (865) 237-5289
Christine (865) 237-5289 and Jennifer (865) 621-3658
Mail to: McIn-Kowski@HomesForSaleKnoxville.com