THE 2009 FEDERAL ENERGY STAR REBATE PROGRAM

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On February 17th, President Obama signed the $789 billion compromise stimulus bill that includes tax credit incentives for homeowners to make energy-efficient home improvements.  The bill extends the expanding tax credits through 2010 on energy-efficient investments - including qualifying windows and doors!
The approved bill includes the ability for homeowners to gain a tax credit of 30 percent of the cost of qualifying energy-efficient upgrades to a maximum of $1,500 per househould for 2009 and 2010.
The new regulations provide FIVE TIMES MORE TAX CREDIT to homeowners than was previously available under a similiar bill.  Additionally, the new law has some very specific restrictions, including:
  • Windows purchased must be equal to or below a U-Factor of 0.30 and a Solar Heat Gain Coefficient (SHGC) of 0.30.
  • The purchase of the qualified windows must be made during the taxable year for which the credit is being claimed.
  • The credit is only allowed on the price of the qualified windows themselves, not on installation costs, onsite preparation, assembly or sales tax.
  • The tax credit is allowable only for qualified window units placed in service in 2009 and 2010.
  • Homeowners need to save their receipts for their windows purchased along with all window labels and stickers to apply for the tax credit.