DON'T THROW MONEY OUT THE WINDOW: GET a 76%-128% RETURN -- in Addition to Your $1500 Tax Credit!
Does $1,280 sound good for your Wish List?
Switch out your entry door with a $1,000 steel one, and that's what you'll get in return by the end of next year. And if you do it by December 31 of this year, your government throws in up to $1,500 with the Federal Energy Tax Credit!
According to the latest Cost vs. Value report from the Remodeling Magazine website (http://www.remodeling.hw.net/2009/costvsvalue/national.aspx), that $1,280 is a number you can count on: it's backed up by research that shows a steel replacement entry door gives a recouped cost of 128.9%. Now that's helping yourself bigtime while helping the planet to boot.
If you have about $10,000 in your budget, you'll get a whopping $7,660. The Cost vs. Value research shows 76.6% recouping of cost on vinyl replacement windows.
And of course, there's that $1,500 stocking stuffer if you meet the Energy Tax Credit deadline.
If you plan to stay in your home for awhile, that's a nice, cozy feeling when it's cold outside. You'll be keeping more heat in while you rack up your returns.
If you're planning on selling, the same research shows a proportionate jump in your added resale value. Here's it looks on the website's spreadsheet:
Job Cost: $10,728
Cost Recouped: 76.6% [spend $10,00 and get $7,660 back]
Added Resale Value: $8,217
Job Cost: $1,172
Cost Recouped: 128.9% [spend $1,000 and get $1,280 back]
Added Resale Value: $1,470
Now what about the Federal Energy Tax Credit?
Although the research points to windows and doors as the biggest for energy savings and dollar return, the Federal Energy Tax Credit allows up to $1,500 if you invest in most energy-efficient products or renewable energy systems by December 31, 2010. And you can use these breaks even if you benefited from similar ones in earlier years. That's good news in a lot of ways.
The first good news is that it's a credit, not just a deduction. What's the difference?
A deduction reduces your taxable income. A credit reduces your taxes, dollar for dollar. A $100 deduction may decrease your taxes by $15, while a credit will reduce them by $100.
The second good news is, this particular credit provides savings in more than one way:
- Substantial savings now, with the credit of 30% of the purchase price of an eligible energy-efficient product or renewable energy system.
- Extended savings for years to come, with reduced energy use.
- Sustainable savings for the environment – where you help the planet while helping yourself.
You'll get the most from these savings if you're able to invest in energy-efficient windows and entry doors. The biggest percentage of heat loss in homes is through energy-leaking windows and entry doors. If you're losing energy out the window, check out your trusted local builder, Innovation Construction Co. Design & Build, for a free consultation, a wide selection of products, and a long list of satisfied customers.
What if you don't need windows and doors? What if yours are either new or efficient replacements? What if your budget is geared for a smaller project?
You can still get the benefit of the Energy Tax Credit while letting some extra sunshine light up your rooms.
Improvements in skylights have increased your options, with innovators like Velux offering numerous choices that can brighten your home and reap the benefits of the Federal Energy Tax Credit as well. In fact, in addition to skylights, Velux has developed a Super Energy Efficient Sun Tunnel ™ product to meet the energy codes of .30/.30 U-factor/SHGC.
Windows, skylights, and entry doors are rated by efficiency standards for insulation and absorbing solar heat: they must at least meet the minimum Solar Heat Gain Coefficient (SHGC) levels and U-Factor levels for efficiency. With the right product selection and proper installation, your home can be made more energy efficient by up to 74% with upgrades in these areas:
- Entry Doors
- Velux Skylights
- Velux Sun Tunnels ™
- Velux Solar Blinds (Velux solar blinds qualify as "photovoltaic property" and are eligible for the 30% tax credit.)
Innovation Construction Company can help you weigh the advantages of different skylights (fixed or venting; manual or electric) or Sun Tunnels ™ (rigid or flexible). We're prepared and qualified to help you select products that are tax-credit-eligible -- meeting specifications within the ENERGY STAR rating and meeting the energy codes of .30/.30 U-factor/SHGC -- and using only the most reliable companies and reputable local dealers.
And, whether you go with skylights, windows or doors, it makes sense for the environment – and your wallet – to make this your target zone for the biggest savings now – and for years to come.
Chuckle of the Week
Q: Why did the architect's lack of money mean he couldn't move a column?
A: Because he couldn't budge it.