Date: 5 March 2009
As a result of the recently enacted American Recovery and Reinvestment Act, the existing tax credit was increased from $500 to $1500 for energy-saving window films during the 2009 calendar year, retroactive to January 1.
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"Our window films are a low-cost, high-return solution for energy savings," said Kent Davies, president of CPFilms and senior vice president of Solutia Inc. "The significant increase in available tax credits reinforces the importance of window film as an energy savings tool while significantly enhancing the tax savings opportunity for our customers. In addition to energy savings, window film helps to reduce glare, improves privacy, and protects families and furnishings from damaging UV rays. Our safety and security films can also improve the performance of glass. Energy savings and the enhanced tax credit work together to make this the right time to put window film at the top of the home improvement list."
Under section 25C of the Internal Revenue Code (I.R.C.), homeowners can now receive a 30 percent credit on the costs of "qualified energy efficiency improvements," including solar control window film on windows, doors, and skylights. This tax credit applies to improvements made to a primary residence from Jan. 1, 2009 through Dec. 31, 2009. Tax credits are available for many types of home improvements, and are listed on http://www.energystar.gov.
How to Receive the Tax Credit
Consumers who purchase most types of LLumar, Vista, and Gila solar control window film brands from professional distributors or dealers for residential use from Jan. 1, 2009 to Dec. 31, 2009 are eligible for the revised 2009 tax credit in accordance with the new bill. A maximum lifetime credit of $1500 per taxpayer for eligible home improvements applies.
Unlike a tax deduction, which reduces the amount of income subject to tax, a tax credit directly reduces the amount of income tax you have to pay. To receive the tax credit, consumers are required to submit IRS Form 5695 with their 2009 Income Tax Return. Copies of the dealer invoice and the manufacturer’s certification statement should be saved. For additional information about tax credit eligibility, consumers can contact their nearest dealer, or refer to http://www.windowfilmtaxcredit.com.
Energy Saving Benefits
Solar control window film can reduce heat gain by approximately 80 percent, providing significant residential energy cost savings.
According to Davies, "Energy costs related to the heat gained through windows can make up about 40 percent of a home’s seasonal utility bill. Window film reflects solar heat, which helps lower energy consumption."
LLumar or Vista solar control window films are professionally installed by the industry’s largest network of factory-trained dealers. Visit http://www.llumar.com or http://www.vista-films.com to find a dealer near you. The Gila do-it-yourself line of solar control window films can be found at most major home improvement retailers. Visit
http://gilafilms.findlocation.com/ to find a retailer near you.
NOTE TO EDITORS: CPFilms, Vista, LLumar and Gila are registered trademarks of Solutia Inc. and/or its subsidiaries.
CPFilms Profile
Solutia’s CPFilms Inc. is the world’s leading producer of high-quality, aftermarket window films and a leading supplier of high-value precision-coated film and film components sold to a variety of businesses. The business manufactures films that provide comfort, aesthetics, energy savings, safety and security when applied to glass. CPFilms Inc. is a subsidiary of Solutia Inc.
Corporate Profile
Solutia is a market-leading performance materials and specialty chemicals company. The company focuses on providing solutions for a better life through a range of products, including: Saflex(R) interlayer for laminated glass; CPFilms(R) aftermarket window films sold under the LLumar(R) brand and others; high-performance nylon polymers and fibers sold under brands such as Vydyne(R) and Wear-Dated(R); and technical specialties including the Flexsys(R) family of chemicals for the rubber industry, Skydrol(R) aviation hydraulic fluid and Therminol(R) heat transfer fluid. Solutia’s businesses are world leaders in each of their market segments. With its headquarters in St. Louis, Missouri, USA, the company operates globally with approximately 3,700 employees in more than 60 locations. More information is available at http://www.Solutia.com.
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