Windows are one of the biggest sources of energy leaks in your home. Stand near your windows and you’ll likely feel a draft. On colder days, touch a pane and you feel a chill to the touch. On hot days, windows can feel like oven doors. If you have single paned glass, chances are that your energy bills soar in the hottest and coldest weather. Here’s a look at how Associated Glass can replace your windows to make your home more comfy and how you can score a windows tax credit and utility rebates to help cover the costs.
How much can you save on utilities by replacing windows?
Replacing existing glass with Energy Star rated windows can improve the look of your home as well as improve the heating and cooling efficiency to save you money. The Pacific Northwest is second only to New England for regional savings on window replacement. According to government research, replacing single paned windows will save $460 annually on energy bills. Upgrading double-paned windows will save $57 annually.
Windows last, on average, 26 to 50 years depending on the quality of window chosen, how well you maintain them, the weather and other factors. Assuming a 40 year lifespan, that’s a greater than $18,000 savings. This should more than make up for the materials and installation costs to replace your windows, assuming you have 20 single windows or a blend of single and double windows that equates to that amount. But there are also tax incentives available to offset the initial cost.
How much can you from windows tax credits?
In addition to the long-term savings on energy bills, there are some immediate offsets in the form of incentives to help you foot the bill for replacement windows. For federal tax credits, use Form 5695 and claim a Nonbusiness Energy Property Credit. This allows you to get a credit of 10% of the cost of qualifying energy efficiency improvements up to a $200 maximum.
One caveat is that replacement windows must be Energy Star certified. The credit was recently extended through December 2014 and will hopefully be extended through 2015, 2016 and beyond as well. Tax credits are preferable to tax deductions because they reduce your tax liability dollar for dollar. So, if you replace windows and the 10% earns you a $200 credit, that directly reduces the taxes you have to pay on your Form 1040.
What other incentives can help offset the cost of replacement windows?
Depending on who your utility provider is in the state of Washington, you may be able to receive an incentive for your replacement windows if you meet certain conditions. For example, for Snohomish County, you must use a Snohomish Public Utility District (PUD) registered contractor and the installation must be authorized by the PUD before work begins.
Upgrading to double pane windows can earn you a one-time cash rebate of $6 per square foot of window replaced. To take full advantage of this rebate, replace all windows at once. Combining this with the federal tax incentive can take a chunk out of the cost of replacing your windows. Snohomish County also offers Energy Star loans to help pay the cost of window replacement which offer repayment terms of up to 15 years and interest rates between 4.25% – 8.74%.
Contact Associated Glass for a Free In-Home Estimate on Replacement Windows
Associated Glass has been helping Seattle and greater Puget Sound area homeowners since 1959. We offer the best quality and price on Energy Star replacement windows plus certified installation services. Call us in Snohomish at (360) 568-0525 or in Lynnwood at (425) 778-2174 to talk about replacement windows and schedule an in-home consultation for a free estimate to find out more about options to improve the energy efficiency of your home and lower your heating and cooling bills.