Tax credit applicable to metal roofing extended, MRA announces
- September 10, 2020
- Posted by: Alan Hageman
- Category: News
The Metal Roofing Alliance (MRA) announced homeowners can save money by installing an energy efficient metal roof this year because the federal property tax credits incentive for doing so have been retroactively extended until Dec. 31.
To take the tax credit, homeowners complete IRS form 5695 and the maximum credit limit for roofing, in combination with all other applicable upgrades, to $500. For homeowners who may have installed a qualified metal roof as early as 2018 but who did not submit for a tax credit at the time, there is an opportunity to receive a credit retroactively by completing the form.
The Environmental Protection Agency estimates ENERGY STAR-qualified roofs can lower roof temperatures by as much as 50 F, MRA stated.
Renee Ramey, executive director at MRA, said, “Research indicates that homeowners can save up to 40 percent on annual energy costs by selecting the right type of roof. Combined with the potential for a tax credit, installing a long-lasting, better performing quality metal roofs makes perfect sense for homeowners who want to save in the short-term as well as over the long run.”
For more information, visit www.energystar.gov/products/building_products/roof_products.