Mar 2 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, and commercial 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.
"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 www.energystar.gov.