Federal Tax Incentive Extension Can Save Substantial Dollars On A New Standing Seam Metal Roof

Looking for a way to save substantial dollars on your new standing seam metal roof?

Congress in January extended the Energy Efficiency Tax Incentives for Appliances, New Homes and Retrofits to Existing Homes for 2012-2013, including metal roofs that meet or exceed Energy Star program requirements. Incidentally, ALL Englert metal roofing products meet those requirements. Retrofit Metal Roof on House

There have been some modifications to eligibility requirements from the old incentive program as well as reductions in the cap to $500 per home, and 10% of installed cost for qualifying equipment.  But these tax credits are retro-active, applying to both materials (you cannot include labor charges) purchased in 2013, as well as previously purchased materials in 2012. This is a pretty good deal since a tax credit is generally more valuable than an equivalent tax deduction because it reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed.

For example, If your metal roof material costs are $5,000, when you do your taxes at the end of the year this would reduce your taxes by $500, bringing the actual cost of your total roof investment down to $4,500.

Here are some of the stipulations if you’re going to go for a tax credit for your new metal roof:

• It must be installed on homeowner’s primary residence and cannot be a new home (this must be a re-roof)
• It must be expected to last five years or have at least a two-year warranty
• A Manufacturer’s Certification Statement is required and it is suggested that you save your receipt and the Manufacturer’s Certification Statement for tax purposes
• Use IRS Form 5695 which stipulates a “metal or asphalt roof that meets or exceeds the Energy Star program requirements and has appropriate pigmented coatings or cooling granules which are specifically and primarily designed to reduce the heat gain of your home.

Meanwhile, the federal government notes that “builders of energy-efficient homes also benefit from the extended tax credits. Up to $2,000 is available for contractors that build homes that consume 50% less heating and cooling energy compared to homes built under the specifications of the 2006 International Energy Conservation Code (IECC).”  This credit, section 45L of the tax code, applies to qualified homes constructed and acquired before December 31, 2013 and of course includes any kind of home that uses a standing seam metal roof as a platform for a  rooftop solar electric photovoltaic system  and an under roof solar thermal heating system.

If you are also curious about other forms of incentive from state and local governments and utilities, go to https://www.dsireusa.org/ for a comprehensive source of information on incentives and policies that support renewable energy and energy efficiency. Established in 1995 and funded by the U.S. Department of Energy, DSIRE is an ongoing project of the North Carolina Solar Center and the Interstate Renewable Energy Council, Inc. The database includes an update of all rebates, grants and financial incentives new within the past two months. Currently, 11 states have listed new incentives on the website.

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