Tax Credit for Window Replacement 2023
THE INFLATION REDUCTION ACT OF 2022 INCREASES THE ENERGY TAX CREDIT FOR NEW WINDOWS IN 2023
COMMON QUESTIONS
Is there a tax credit for new replacement windows in 2023?
YES. Beginning in 2023 and as part of the Inflation Reduction Act of 2022, homeowners can now earn an energy tax credit of 30% of the cost of new windows, up to $600.00
What about Entry Doors?
YES, there is a new/updated credit for entry doors as well. $250.00 per door, $500.00 max for more than one door.
Is there a Limit on the 2023 Tax Credit?
There is an annual limit of $600.00 for new windows, but no lifetime limit. If you install windows this year, AND next year, you can claim your $600 in both years. More info.
What are the qualifications of the Window?
Windows must have the Energy Star Most Efficient certification. This is an extremely important detail…as the Most Efficient certification requires an incredibly low U Factor of <= 0.20. Window Depot USA is one of the few companies that offer products with this “best of the best” distinction.
Remember, “Most Efficient” is a separate distinction from ‘standard’ Energystar. It is reserved for the highest rated energy efficient products.
Current Energy Star Qualifications
Current Most Efficient Qualifications
How do I claim my Tax Credit?
To take advantage of these tax credits, you claim them when you file your taxes. You’ll need to fill out a form (Form 5695 for homeowners) to claim the credit. Your tax professional can help with your questions when you file.
In order to claim the credit, your windows need to have been installed, not just purchased in the year you’re filing. The tax credit can increase your tax refund or reduce your taxable income.
What if my Windows were installed in 2022?
You can still file for a tax credit, but the max is 10% up to $200.
How can I find out more?
Just click or call to schedule an estimate, and our consultants can get you the answers you need!
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Let us help you navigate these TAX CREDIT savings!
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Other Questions about ENERGY STAR
Are the ‘regular’ Energy Star standards changing?
Yes. We are currently using Energystar 6.0. This will change in October to version 7.0.
Are the changes significant?
YES. Especially in the Northern Zone, where U factors to qualify have gone from 0.27 to 0.22. A dramatic jump that will cause many companies and manufacturers to rework their offerings. The change is less drastic in the Southern Zones.
In all cases…because WD has always focused on the most efficient products available via TRIPLE PANE TECHNOLOGY, we are well prepared.
How does the new Energystar 7.0 standard affect these tax credits?
It doesn’t. The tax credit is available for products meeting the “Most Efficient” Energystar designation. This requires thermal performance that is superior to standard Energystar.