Stimulus Package Promises Positive Effect On Window Sales

PARKERSBURG, W. VA. - On February 17th, President Obama signed the $789 billion compromise stimulus bill that includes tax credit incentives for homeowners to make energy efficient home improvements. The final bill includes provisions to promote “energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.”

“At Simonton, we believe that the tax credit incentive that is built into the economic stimulus package is an extremely positive step in helping consumers purchase products that will provide them with long-term energy savings and add value to their homes,” according to Mark Savan, president of Simonton Windows^®. “To help homeowners, contractors and remodelers with their questions on the new tax credit program we’ll soon launch www.simonton.com/taxcredit. This is a specially-dedicated location within our company web site that will supply answers to questions on the new tax credit program, downloadable forms, case studies on energy efficient windows and links to sites with additional information.”

The approved bill includes the ability for homeowners to gain a tax credit of 30 percent of the cost of qualifying energy efficient upgrades to a maximum of $1,500 per household for 2009 and 2010. The new regulations provide five times more tax credit to homeowners than was previously available under a similar bill, which allowed up to only $200 tax credit on energy efficient window purchases. Additionally, the new law has some very specific restrictions, including:

1. Windows purchased must be equal to or below a U Factor of 0.30 and a Solar Heat Gain Coefficient (SHGC) of 0.30.
   
2. The purchase of the qualified windows must be made during the taxable year for which the credit is being claimed.
   
3. The credit is only allowed on the price of the qualified windows themselves, not on installation costs, onsite preparation, assembly or sales tax.
   
4. The tax credit is allowable only for qualified window units placed in service in 2009 and 2010.

“Simonton offers a wide variety of windows that meet the specific energy efficient requirements so that homeowners can take advantage of the tax credit,” says Savan. “We have reasonable expectations that the increased incentives for homeowners to make energy efficient upgrades will have a positive effect on business at Simonton Windows. We plan to fully support the opportunity with a number of initiatives.”

Simonton Windows produces ENERGY STAR^®; qualified replacement and new construction windows and doors, including a line of impact-resistant products. Simonton ranked “Highest in Builder and Remodeler Satisfaction among Residential Window and Patio Door Manufacturers” in the J.D. Power and Associates 2008 Builder and Remodeler Residential Window and Patio Door Satisfaction Study^SM. The company was ranked #1 in quality in the 2007 Brand Use Study sponsored by Builder magazine and has won three Best In Class Awards from Market Research Associates.

Founded in 1946, Simonton’s hallmark has been to deliver its made-to-order products in five days or less. Part of the home and hardware division of Fortune Brands, Inc. (NYSE: FO), Simonton delivers nationwide to key markets throughout the 48 continental United States.

Simonton is a founding sponsor of The Weather Museum and a corporate partner of Homes for Our Troops. For information, call (800) SIMONTON or visit www.simonton.com.                                                    

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