Solar Window Tax Credit

Solar Window Tax Credit

New Tax Credit for Purchasers of Solar Window Film

Solar film can offer savings of up to 20 percent in energy costs, regardless of the time of year. The Internal Revenue Service is offering homeowners who purchased solar control window film a 10 percent solar window tax credit for the 2006 tax year. The credit will continue through 2007. Solar film can cut soaring energy costs by up to 20 percent, in summer and winter. It also filters out up to 98 percent of the sun's UV rays which can damage furnishings.

Solar Window Tax Credit

March 8, 2007 -- As oil prices soar and energy costs rise, homeowners are going green to cut costs and protect the environment.

And the Internal Revenue Service is encouraging this by giving consumers who purchased solar control window film for their homes a 10 percent solar window tax credit for the 2006 tax year. The credit will continue until December 31, 2007, unless it is extended by Congress next year.

According to the IRS, the solar film must be installed in a dwelling located in the United States and owned and used by the taxpayer as their principal residence. The credit is for the film, not the installation.

Why is the IRS offering this credit?

Solar film can offer savings of up to 20 percent in energy costs, regardless of the time of year, said Carol Borow, president of CHB Industries, a leading provider of window film systems nationwide since 1990.

In winter, it keeps interiors warm as it increases the window's insulation, reducing heat loss by 15 percent. In summer, the film, which is applied to the inside of the windows, keeps interiors cool by cutting solar heat by up to 65 percent while minimally darkening the glass.

Solar protected windows allow light to come in while filtering out up to 98 percent of the sun's UV rays that can damage expensive fabrics, furniture, wall coverings, art, and even the finish on wood floors

This all translates into savings, both for consumers and our environment," Borow said. West- and south-facing windows may offer wonderful views, but the effects of sunlight can negate these benefits. Solar protection window film is a practical and affordable solution to this problem.

For specifics on the IRS tax credit, consult a tax preparer. Consumer eligibility requirements can be found under Section 25C of the Internal Revenue Code.