What is Green Building?
Green Building seeks to minimize the impact of your project upon the environment, both immediately and in the future. Energy-efficient materials reduce heating and cooling costs. The selection of quality low-maintenance and long-lasting materials reduces waste from ending up in landfills.
Does Green Building Cost More?
Often, no. Any project has initial, upfront costs (also called Contract Cost). Then, there are long-term, or maintenance, costs based on the quality of your initial product choice. High-quality materials that will last longer, require less Maintenance, or use less Energy may have a higher initial cost, but a lower overall cost over their lifetime. Examples include Energy-Efficient Windows and Thicker Ceiling Insulation. They can also offer a much better return at resale. It is the job of your Mulder Glass Representative to discuss the costs and benefits associated with each product.
What Tax Credits are Available in 2011?
For 2011, Federal tax credits are available, up to a maximum of $500.00, when installing Energy Star approved materials in your existing home or addition. The credit us 10% of the materials only (not labor), and has a maximum value of $200 for windows. Approved Doors and Insulation can help increase the total credit to the $500 cap.
This is a full tax credit, and not a simple deduction. A $200 Federal refund without the credit becomes a $700 refund with the credit.
Who Can Qualify for the Tax Credit?
In order to qualify, the home must be existing, and be your principal residence. Additions/Upgrades to existing homes do Qualify. New Homes (from an empty lot), Second Homes, and Rental Homes do not qualify. The $500 maximum cap goes back to 2006, meaning that any Energy Star upgrade claims filed between 2006 and 2010 count towards your total allowance. If you claimed $200 in 2008, you can only claim $300 in 2011.
Where Can I Find More Information?
Full program information can be on www.EnergyStar.gov. Your Mulder Glass representative will be happy to work with your Tax Preparer, who will have final responsibility for any credits filed.
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