To qualify for the tax credit, window shades must meet certain energy efficiency standards. These standards are set by the US Department of Energy (DOE) and are based on the product's ability to reduce heat loss and gain through windows.
Yes, select window shades qualify for a federal energy tax credit. The credit is part of the Energy Efficient Home Improvement Credit under the Inflation Reduction Act of 2022. It allows homeowners to claim a tax credit of 30% of the cost of qualifying energy-efficient products, up to a maximum of $1,200 per year.
One type of window shade that qualifies for the tax credit is the honeycomb shade. Honeycomb shades are made up of multiple layers of fabric that create air pockets, which trap heat and insulate the window. Hunter Douglas Duette Honeycomb Shades are an example of a honeycomb shade that qualifies for the tax credit.
Another type of window shade that may qualify for the tax credit is the cellular shade. Cellular shades are similar to honeycomb shades in that they have multiple layers of fabric that create air pockets. However, cellular shades are typically made from a different type of fabric, such as polyester or cotton.
To find out if a particular window shade qualifies for the federal energy tax credit, you can check the product's EnergyGuide label. The EnergyGuide label will tell you how much energy the product can save and whether it meets the DOE's energy efficiency standards.
It is important to note that the federal energy tax credit is only available for window shades that are installed in your primary residence. Additionally, the tax credit cannot be used to offset the cost of installing the window shades.
If you are considering purchasing energy-efficient window shades, be sure to check with your tax advisor to see if you are eligible for the federal energy tax credit.
Suncoast consultants will show you which products are qualified for the deduction and make sure you consult with your tax advisor to see if you qualify.