The Emergency Economic Stabilization Act of 2008 reinstated Federal tax credits for consumers who make certain energy-efficient improvements to their homes. This bill extended tax credits for energy-efficient home improvements made during 2009, such as energy saving window film.
Under section 25C of the Internal Revenue Code (I.R.C.), homeowners can receive a 10 percent credit on the costs of “qualified energy efficiency improvements,” including Panorama solar control window film on windows, doors, and skylights. Window film qualifies as insulation for the purposes of the credit. This tax credit applies only to improvements made to a primary residence from Jan. 1, 2009 through Dec. 31, 2009.
A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces your tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. If you can itemize energy-related purchases on your federal income tax form, it will lower the total amount of tax you owe the government.
Homeowners can receive a 10 percent credit on the cost of the window film, up to $500. Installation does not apply, only the cost of the film.
Save On Your Energy Bills Now
Cooling costs related to the heat gained through windows can make up about 40 percent of a home’s summer utility bill. Solar control window film reduces total solar energy by up to 80 percent, which helps lower your energy consumption. And the energy savings benefits go on year after year, long after you have received the tax credit.
And the benefits don’t stop there. In addition to energy savings all year long, window film also can:
- Improve your comfort by eliminating hot spots and maintaining interior temperatures
- Help protect your family from UV exposure, which can help prevent certain forms of skin cancer
- Reduce glare
- Reduce fading of furnishings and interiors
Any homeowner who purchases and installs qualifying Panorama brands of solar control window film
(see manufacturer’s certification for eligible films) between Jan. 1 and Dec. 31, 2009 is eligible to receive a 2009 tax credit.
How to Receive Credit
Complete IRS form 5695 and file 2009 Income Tax Returns by April 15, 2010. Maintain copies of the dealer invoice and the manufacturer’s certification statement for your records. If you are audited, you will need to provide these documents to the IRS.
Tax forms are downloadable from http://www.energystar.gov/index.cfm?c=products.pr_tax_credits#c1 or the IRS website at http://www.irs.gov/. For further information about energy tax credits, visit http://www.energy.gov/taxbreaks.htm.
Locating a Panorama Dealer
For professionally installed window film, visit the dealer locator section of the website.
To find out more information, please download the 2009 Tax Credit PDF