February 22, 2011 | Filed under: Roofing Issues
Federal tax credits for Energy-Star-Certified metal roofing have been extended into 2011, albeit at a lower rate. Under the new credit, you can claim 10% of the installed cost of a qualifying metal roof, up to a maximum of $500. BUT the $500 figure is a lifetime limit. If you claimed $500 or more in credits for energy efficient home improvements under this credit from 2006-2010, nothing more is available to you.
In order to qualify, the metal roof system and color you choose must be Energy Star Certified. Most Classic Metal Roofs do carry this certification (only certain colors do not).
Because it is a credit and not a deduction, the $500 represents actual cash value returned to you ($500 less if you owe or $500 more if you get a federal tax refund).