With energy costs on the rise, many homeowners are interested in upgrading their residences with energy-efficient materials. From the roofing and siding to the windows and doors, there is plenty of room for opportunity. Lower utility bills are just one significant advantage, as there are numerous tax credits you can benefit from.
The Inflation Reduction Act (IRA) of 2022 has given homeowners a new way to save. This all-encompassing legislation included significant tax incentives for homeowners that choose energy-efficient home remodeling projects, up to a certain limit. Below, we'll cover some of the basics so that you and your family can be informed.
Details of the IRA's Energy-Efficient Tax Credits
With help from the federal government, your home's energy-efficient upgrades can be significantly more affordable. The IRA provides individuals with credits for a variety of home improvement services, so long as they meet efficiency guidelines. These guidelines include the highest tier of efficiency from the Consortium for Energy Efficiency, Energy Star requirements, and the Energy Conservation Code standards. Some of the services covered under the IRA include exterior windows, doors, and siding, all of which are offered by our team at Alenco.
Some important notes about the tax credit include:
- There is a maximum yearly credit of $1,200. A separate $2,000 credit can be used for heat-related appliances, bringing the annual total to $3,200.
- Most projects are limited to 30% of the total labor and material costs. There are also maximums for each type of project.
- Maximum credits can be claimed every year up until 2032.
As you can see, the Inflation Reduction Act is a gift that keeps on giving. You can continuously upgrade your home every year and receive a significant portion of the investment back through your tax return.
Trust Alenco to Provide Top-Quality Workmanship
There has truly never been a better time to upgrade your home with energy-efficient materials and products. However, finding a qualified company that can take this all on is a challenge. Luckily for you, Alenco is there for your family. We are a trusted name in Missouri and Kansas and have been in business since 1986.
We're proud to be family-owned and offer a lifetime warranty on all products for our customer's peace of mind. Our experts provide a wide variety of services for you to take advantage of, including Kohler bathrooms, windows, siding, and doors. Stop by our massive 36,000 sq. ft. showroom to discover the beauty that we offer, and be sure to get in touch for a free quote today!