Purchasing windows and doors can be as expensive as a new car, but there are several ways that you can offset the costs. This article provides several insights on how to get cash back from your window and door purchase, and, simultaneously, support California’s NET Zero carbon emissions goals for the future. Really these savings opportunities are a win-win, as customers are attracted to saving money and manufacturers benefit from increasing sales.
A rebate is a partial refund to the purchase price that is offered to the customer after the purchase has been made. The customer pays the full price of the product at the time of purchase and then receives the rebate amount later, as a future incentive. Typically the rebate will only be issued after the products have been delivered and after certain requirements have been met, such as filling out a rebate form, providing proof of purchase, and submitting the request to the manufacturer within a specified timeframe. For example, you can take advantage of a rebate from Milgard through the end of May, 2023! Learn more here!
Discounts and Promotions:
A discount is a different type of incentive offered to the customer and given at the time of purchase as a reduction in price. For example, if a product is sold at the Manufacturer’s Resale Price (MRP) of $100 and is on sale for 20% off, the customer would pay $80 at the time of order. A promotion offers additional, immediate, incentives to the purchase, such as a gift card, a freebie, or buy-one-get-one-free offer.
A tax credit is a financial incentive provided by the government to individuals (and in some cases businesses) that reduces the amount of tax owed to the government. Tax credits are usually offered to encourage certain behaviors or to support certain policies, such as energy conservation, sustainable building practices, climate change, or research and development. A tax credit works by directly reducing the amount of tax owed by the taxpayer. Tax credits are different from tax deductions, which reduce the amount of taxable income on which the tax liability is calculated.
There are many different types of tax credits offered by the government through programs like Energy Star. The Energy Star program is a voluntary program run by the US Environmental Protection Agency (EPA) that promotes energy efficiency in consumer products and buildings. While the Energy Star program itself does not offer tax credits or tax rebates, the purchase of certain Energy Star-certified products can make consumers eligible for tax credits or rebates offered by federal or state governments. For example, in the United States, the federal government offers a tax credit of up to 26% of the cost of purchasing and installing certain residential renewable energy systems, such as solar panels or small wind turbines. Additionally, some states may offer their own tax credits or rebates for the purchase of energy-efficient products or the installation of renewable energy systems.
Energy Star-certified products are designed to meet energy efficiency standards set by the EPA, which can help consumers reduce their energy costs and their impact on the environment. By choosing Energy Star-certified products, consumers may be able to take advantage of tax credits or rebates that incentivize energy efficiency and renewable energy use. Consumers can receive up to a $600 tax credit on the purchase of residential windows that meet the ENERGY STAR Most Efficient criteria. There is also a tax credit of up to $250 for one or $500 for two residential doors and skylights. Other restrictions may apply, so please visit the website for additional details. https://www.energystar.gov/products/res_windows_doors_skylights
Overall, tax credits can be a valuable way for individuals and businesses to reduce their tax liability and support policies and behaviors that the government wants to encourage. Please consult a tax professional to accurately report your taxes.
While new windows and doors are a big-ticket purchase, when done wisely, they can transform your expense into an investment in a sustainable future. Advanced planning always helps customers take advantage of these offers to save money! Want to learn more about how new energy-efficient windows and doors can help save you money? Visit our blog on the Replacement ROI: Windows and Doors as Investments, and please look out for upcoming blogs regarding “Knowing Your Glass” and California’s Net Zero Carbon Emissions, Building a Sustainable Future.”