The IRS Energy Tax Credit
In a very simplified version of explanation, for primary property (non- business) that is located in the US, owned and used by the taxpayer as the principal place of residence (defined by Code Sec. 25C(a) and (b), certain expenses that meet energy efficiency criteria established by the 2000 International Energy Conservation Code, (that also meet the Energy Star Program requirements in the case of a metal roof with pigmented coatings or an asphalt roof with specific cooling granules), that are primarily designed to reduce heat/loss or gain, can result in a tax credit up to a total of $1500 when placed in service beginning after 2008 and before January 1, 2010.
To read the IRS Code 25C: http://www.taxalmanac.org/index.php/Sec._25C
Jacksonville is "Hot" so a new "Green" Roof may be a Cool-Roof Solution
A cool roof is not just slang for the way it looks, rather more aptly put, it, is a roof that is built or coated with a material that is designed to reflect sunlight. By reflecting sunlight, the roof stays cooler and less heat is then transferred to the building or dwelling area below. This results in a cooler living area, a cooler building, reduced energy costs resulting in money savings.
The larger the building, the greater the savings potential, especially in these hot Florida climates. Also, if your home or business is exposed to a sunny location versus a shaded location, you may see a very large reduction in cooling costs.
The real beauty of Energy Efficiency isn't the Tax Credit - It's the Energy Savings
Yes, it's great to receive a Tax Credit "rebate" from the IRS in any amount, but the real enticement to improving your home AND business lies in the substantial savings you can gain in reduced cooling expense. This is a real savings that you earn, month after month, year after year.
If you would like to run a calculation on your own home or business, be sure to check out the Department of Energy's Cool Energy Calculator: http://www.ornl.gov/sci/roofs+walls/facts/CoolCalcEnergy.htm
