Replacement Windows Tax Credit: Time is Running Out!

By: Allison Millar, Contributing Writer
In: Necessary home improvements
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I just ordered replacement windows for our drafty sunroom and not a minute too soon. The clock is ticking for all those energy efficient tax breaks; they end December 31. If you’re on the fence about whether to add replacement windows, here’s how to decide:

The Scoop on Energy Efficient Windows

  • How energy efficient are your current doors and windows? If you’re like me, I was tired of feeling the air move through the cracks, despite hours of trying to fit weatherproofing material in the gaps. Today’s replacement windows have double or triple panes of glass and other key features. The Department of Energy has the scoop on making sure windows are well sealed. That’s why the replacement windows tax credit is key!
  • Calculate the savings on energy efficient windows. The replacement windows tax credit saves you 30 percent on qualifying products, up to $1,500. Let’s say the windows are $4,000 (and meet the criteria). You can save $1,200. For more details, check out Moneypit.com. Also, make sure you get the proper documentation from the window company.
  • Check your cash flow. Replacement windows are an investment, so you may need to do a little budgeting. Also look around for special financing incentives from area retailers. And, don’t forget the reduction in your tax bill.

Here’s more from Energy Star on the benefits of energy efficient products. There’s also a handy geographical chart that shows estimated savings. Interestingly enough, Florida has one of the highest savings rates.

Aside from the financial savings, there are significant “creature comfort” benefits. I’m looking forward to sitting by the window in January–without needing a coat and a space heater.

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