***The Energy Tax credit is no longer available for the 2014 calendar year***
The Residential Energy Efficiency Tax Credit was retroactively renewed by the American Taxpayer Relief Act of 2012. It will expire on December 31, 2013. This credit applies to energy efficiency improvements in the building envelope and other energy saving improvements. Owners of existing homes may receive a tax credit worth 10% of the cost of upgrading the efficiency of the building’s envelope. The tax credit is applicable for a dwelling in the United States that is owned and used by the taxpayer as a primary residence. Maximum tax credit for all improvements made from 2006 to 2013 is $500, only $200 of which can be windows. A homeowner who buys both windows and doors can qualify for the entire $500. Doors are not included in the $200 limit, so that $500 credit can include doors if the $200 max for windows is achieved.
If a taxpayer claimed $500 or more ($200 for windows) of these tax credits in any previous year, any purchases made in 2012 or 2013 will be ineligible for a tax credit. To be eligible for the credit, the improvements must meet the prescriptive requirements established for it under the 2009 International Energy Conservation Code. Eligible windows and doors need only to be ENERGY STAR qualified products. Installation (labor) costs are not included. Majority of the products that NEXT Door & Window installs qualify. All windows and doors must be installed by December 31, 2013. Please contact us for additional information.
