You’ve likely heard talk about The Inflation Reduction Act and that it’s, in part, a bill aimed to reduce climate change. Although its name doesn’t give that impression, it is. That means now may be the time to consider new siding, doors and windows in northern Virginia. However, understanding what you can get if you make the right purchases isn’t easy.
Window & Door Credits
Windows are one of the biggest sources of energy loss in most homes. According to the Department of Energy, as much as 30% of energy loss is through a home’s windows. This program offers up to $600 annually for window and skylight replacement and $250 for new exterior doors (maximum of $500 per year). This was once a lifetime deduction and it is now an annual credit – meaning if you get new windows in part of your home this year, you can get more another year and claim the credit both times. And, it’s a tax credit which applies against taxes due rather than a tax deduction. Admittedly this isn’t going to pay for new windows, but it will help.
Insulation
There are a few ways that you can benefit from the insulation tax rebate. One is to install new siding with an insulative wrap underneath. Another is to add the proper amount of insulation in your attic. Both will make your home more energy efficient. With new insulation, you can get up to $1600 in tax credits. Of course, long term, you will have lower heating and cooling costs.
The Rules
There’s always a catch anytime the government is essentially giving away money and that’s true in this case. You need to make sure you choose ENERGY STAR® rated windows for northern Virginia. Of course, you income also plays a part in whether you qualify. Make sure the siding, insulation or window company you’re talking to helps you choose products that qualify.
Call Peak Windows & Siding
If you are considering any of these updates for your home, we can help. We only sell and install ENERGY STAR windows in northern Virginia. And, we can include an insulative wrap for your new siding and make sure your new doors are also energy efficient. Call us today for your free estimate for new windows, siding and doors at (703) 468-4769 or fill out our contact form today.
