Enhanced curb appeal and more energy savings are some of the top benefits of replacing your old windows, but you can now also tax credits. With your window upgrade, this allows you to claim a significant amount.
As the leading source of the best windows in Illinois, Next Door and Window is happy to set your expectations regarding these federal tax credits. Here are some of the things you should remember:
Rely on ENERGY STAR®
Not all windows are eligible for the energy tax credit. One way to know whether the product qualifies is to look for an ENERGY STAR label. Your chosen must meet the ENERGY STAR 6.0 standards based on where you live. These standards provide ratings for U-factor and Solar Heat Gain Coefficient (SHGC). The former refers to how well the window minimizes heat loss, while the latter measures the product’s ability to block sunlight heat.
In addition, the National Fenestration Rating Council (NFRC) provides more information on a window’s energy performance. The NFRC label features details on light transmission, condensation resistance, and air leakage, which are prime indicators of energy efficiency.
All ENERGY STAR–qualified replacement windows in Illinois likewise have an NFRC label.
Snub Cheap Products
If you live in a moderately sized home of more or less 2,000 square feet, be sure to choose a reliable window brand. This way, you can expect to spend anything in between $500 and $1,000 per fixture, including installation.
Indeed, a window upgrade means a serious amount of money, but you should avoid going for the lowest priced choice. More often than not, settling with low-cost products also means sacrificing U-factor and SHGC ratings. If you do this, you might not qualify for the tax break. You also miss the opportunity to cut your typical monthly energy bills down to 40%.
File Your Credits Right
To get the tax credit, you should file the IRS Form 5695. Regardless of the number of your new windows in IL, you can only claim up to $200. Keep your receipts and labels, as you might need them later.
Let the trusted name in window replacement help you make this upgrade as financially rewarding as possible. Call Next Door and Window now at (855) 893-6100, and let’s talk about your project.