Post Time:Mar 05,2009Classify:Company NewsView:423
New Stimulus Bill Increases Federal Tax Credits for Energy Efficiency in 2009
CPFilms(R) Inc., a wholly owned subsidiary of Solutia Inc. (NYSE: SOA), and the world’s leading producer of professional window films for automotive, residential, andcommercial markets, has announced that its Vista(R), LLumar(R) and Gila(R) energy-saving window films now qualify for up to $1500 in federal tax credits in 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
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
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
NOTE TO EDITORS: CPFilms, Vista, LLumar and Gila are registered trademarks of Solutia Inc. and/or its subsidiaries.
Source: Solutia Inc.Author: shangyi
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