PrintHigher Energy Bills Are Here
Johns Manville has launched this website as part of a continued effort to help you understand the role insulation can play in making your home more energy efficient.
The site contains information about JM insulation and helpful tips for homeowners on how insulation can reduce energy bills by up to 30%. The website also provides consumers with links to leading organizations focused on insulation, energy efficiency and conservation.
Energy Bill Tax Credits
The US Treasury Department, the Department of Energy and Energy Star® have developed guidelines regarding the energy efficiency tax credits for existing homes for tax years 2006 and 2007 under the Energy Policy Act of 2005.
Johns Manville has compiled the information * that will help you as a homeowner save energy and money too! Please continue to check back as this information and supplemental documentation may continue to be updated.
For existing homes, what this means to you:
- Homeowners who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs and heating and cooling equipment for their home are eligible for a tax credit of 10% of the amount paid for materials up to $500 for all taxable years.
- The maximum credit for windows is $200.
- Insulation, whose primary purpose is to insulate, would therefore qualify for 10% of the cost of materials, up to $500
- For example, attic or wall insulation or a vapor retarder would apply, but not siding.
- Installation costs are not eligible for the tax credit.
- The Homeowner must also receive a copy of the Manufacturer's Certification Statement. (Download Certificate)
- Homeowners can receive up to $300 credit for purchases of a highly efficient central air conditioner, heat pump or water heater.
- Homeowners can receive 30% or up to $2000 on the purchase of qualified Solar Energy Systems.
- Improvements must be installed in or on the taxpayer's principal residence in the United States between January 1, 2006 and December 31, 2007.
*Information from the US Dept of Energy website
3 Easy Steps to Redeem Your Energy Tax Credit
- Buy JM Formaldehyde-free™ insulation at your local home center. Visit our store locator for the one nearest you.
- Download our Manufacturer Certificate, fill it out and keep it and your proof of purchase in your income tax records.
- Use the government provided forms to claim the purchase when you file your income taxes at the beginning of the year.
Resources and Supporting Documentation
- Residential Energy Credits - IRS Form 5695 (Coming Soon)
- Simply Insulate (www.simplyinsulate.com)
- Alliance to Save Energy (www.ase.org)
- Energy Star® (http://energystar.gov/index.cfm?c=products.pr_tax_credits)
- U.S Department of Energy (http://www.doe.gov/taxbreaks.htm)
- Treasury and IRS Guidance for Energy Credits for Homeowners (Download Notice 2006-26)
- Treasury and IRS Guidance for Energy Credits for Builders (Download Notice 2006-27, Notice 2006-28)
- JM Manufacturer Certificate (Download Certificate)
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