WASHINGTON, March 10, 2021 /PRNewswire/ — The International Window Film Association (IWFA) is letting owners of residential property know they may be eligible for a maximum Federal tax credit of up to $500 total for qualified energy improvements designed to reduce heat loss or gain of their primary home.
Window film products qualify for this tax credit as an insulation material or system that is specifically and primarily designed to reduce heat loss or gain of a home. Instructions from the IRS on how to take this credit can be found here. If the total of any nonbusiness energy property credits taken in previous years (after 2005) is more than $500, then a filer may be ineligible to take the credit in 2020. The IWFA suggests anyone filing for this credit may wish to consult a tax advisor.
“Window film products may improve the overall energy efficiency and lifespan of windows, doors and skylights and they also have a useful lifespan of 15 years or more” said Darrell Smith, executive director of the IWFA.
Many window films are rated for their energy saving performance by the National Fenestration Rating Council, the same nonprofit organization that rates various window, doors and skylight products for their energy performance. Window film has been shown to be a cost-effective means of improving energy performance and often may be installed for about one-tenth of the cost of a replacement window.
“Window films may reduce energy consumption from solar heat gain in summer or reflect interior heat back inside in winter, while allowing in natural light without the negative impact of UV exposure. In terms of added safety, window film can help to control glass breakage and may prevent glass shards from hurting people,” said Smith
About The International Window Film Association
The International Window Film Association (IWFA) (www.iwfa.com) is a nonprofit industry body of window film dealers, distributors, and manufacturers that facilitates the growth of the window film industry through education, research, advocacy and public awareness. When you look for window film, look for the IWFA logo. Like us on Facebook, follow us on Twitter and see more information on YouTube.
SOURCE International Window Film Association