Tax credits help homeowners winterize

CHICOPEE, Mass. (WWLP) - Investments in energy efficient insulation, windows, exterior doors, and roofing will pay off this winter. Homeowners will save money on utilities, plus enjoy a more comfortable living space.

Tax credits are available for several energy efficient upgrades to homes built before 2009. To receive the credit, homeowners will have to fill out a 5695 form when filing their taxes.

Homeowners can claim 30% of the cost of new insulation, windows, doors, and roofing purchased in 2009. Items must be considered energy efficient and meet specific criteria determined by the federal government.

The total credit for energy efficient upgrades cannot exceed $1,500. So, for a homeowner to receive the full credit, they must invest $5,000 in acceptable improvements. Investments over $5,000 will not result in additional credit.

New insulation must be energy star rated to qualify for a tax credit. The cost of installation can not be included in the claim.

Qualifying windows and storm doors must have a U-Factor of 0.3 or lower to qualify for a tax credit. Products that meet such criteria can be identified by their stickers. Homeowners should retain stickers from each window and door. Although stickers will not be submitted with tax forms, they are necessary if an audit is performed.

Most roofing does not quality for a tax credit. One must select “cool roofing,” also called reflective asphalt roofing. These light colored shingles are more reflective that typical black or dark roofs. In the summer “cool roofs” prevent attic space from reaching extreme temperatures.

A “cool roof” will not directly improve energy efficiency locally this winter. Benefits, though, will be gained by patching faulty spots on the roof and adding insulation.

Tax credits for energy efficient windows, doors, roofs, and insulation are not available for news homes constructed in 2009. For more information about tax credits related to energy efficient upgrades, visit energystar.gov .

Addition home winterizing tips can be found here .