Key Takeaways

• New Jersey homeowners can save up to 30% on roofing material costs through tax credits.
• The tax credit is capped at $1,200 and excludes installation costs.
• Only ENERGY STAR®-certified roofing products qualify for the tax credit.
• Additional rebates may be available from state programs, utility companies, and manufacturers.
• Elevated Remodeling is among the most trusted contractors in New Jersey for roof replacement.

How New Jersey Homeowners Can Save Money with Shingle Roof Replacement

Replacing your roof is a significant expense, but did you know that New Jersey provides tax credits and rebates to help you offset some of the cost? By taking advantage of these incentives, you can save money while improving the energy efficiency of your home. 

Why You Should Consider Replacing Your Shingle Roof

1. Tax Incentives: Tax incentives in New Jersey cover energy-efficient home improvements. When you replace your roof with qualifying materials, you can claim a portion of the costs as a tax credit—reducing your overall tax liability.
   
2. Long-Term Savings on Energy Bills: Besides the immediate tax benefits, installing an energy-efficient roof can lead to substantial long-term savings on your energy bills.
   
3. Environmental Benefits: By choosing energy-efficient roofing materials, you’re also helping the environment. These materials reduce your home’s carbon footprint by lowering energy consumption. This is a win-win situation where you save money and contribute to a healthier planet.

At Elevated Remodeling, we specialize in high-quality, energy-efficient replacement windows, doors, siding, and roofing solutions. Based in Pennsville Township, New Jersey, our company serves clients in New Jersey, Pennsylvania, Maryland, and Delaware. Get a Quote for Your Project

New Jersey Tax Credits for Shingle Roof Replacement Explained

Overview of Federal Tax Credits for Shingle Roof Replacement

You can claim a tax credit for installing qualifying energy-efficient roofing systems.

• Credit Amount: The claim can be 30% of the cost of qualifying roofing materials, capped at $1,200.
  
• Eligible Products: The credit applies to roofing materials that are Energy Star certified, such as asphalt shingles with cooling granules or metal roofs with a pigmented coating that reflects sunlight.
  
• Exclusions: The credit does not cover installation costs and is only valid for primary residences, excluding rental properties and new constructions.

Eligibility Criteria

To qualify for the federal tax credit for shingle roof replacement, homeowners must meet the following criteria:

1. Type of Roofing Material: The roofing materials must be Energy Star certified. Eligible types include:
   
   1. Asphalt shingles with cooling granules
   2. Metal roofs with a pigmented coating
      
2. Primary Residence: The property must be your primary residence. Second homes may also qualify, but rental properties do not.
   
3. Type of Replacement: The credit applies to full roof replacements but not to repairs or partial replacements.
   
4. Documentation: You must keep all receipts and documentation related to the purchase of the roofing materials.
   
5. Period: The program is in effect from January 1, 2023, to December 31, 2032.

Step-by-Step Application Process

To claim the tax credit for shingle roof replacement, follow these steps:

1. Choose Qualifying Materials: Work with a reliable roofing contractor to select Energy Star-certified roofing materials that meet the eligibility criteria.
   
2. Complete the Installation: Ensure that the roof is fully replaced with the qualifying materials.
   
3. Gather Documentation: Collect all receipts, invoices, and any other documentation related to the purchase of the roofing materials.
   
4. Fill Out IRS Form 5695: This form is used to claim the Residential Energy Credits. Make sure to accurately report the cost of the qualifying roofing materials.
   
5. Include Form 5695 With Your Tax Return: When filing your annual tax return, include Form 5695 to claim the tax credit.

We recommend you consult with a tax professional so you meet all requirements and maximize your tax benefits.

Available Rebates for Shingle Roof Replacement in New Jersey

1. New Jersey Roof Replacement Program

This program provides financial assistance to homeowners needing roof replacements, especially if you’re planning to install solar panels. It also provides grants and low-interest loans to help cover the costs associated with roof replacement so the new roof can support solar panel installations.

2. Free Roof Replacement Grants

Low-income homeowners in New Jersey may qualify for grants that cover the entire cost of roof replacements. These grants significantly reduce out-of-pocket expenses and make it easier for eligible families to pay for and maintain their homes.

3. New Jersey Clean Energy Program

The New Jersey Clean Energy Program has incentives for homeowners interested in energy-efficient roofing. This program includes:

• Rebates: Financial rebates for installing energy-efficient roofing.
  
• Special Financing: Low-interest loans for homeowners who choose eco-friendly roofing solutions like solar-integrated roofs.

4. Solar Renewable Energy Certificates (SREC)

Under the SREC program, homeowners who install solar panels can earn certificates based on the amount of solar energy their systems produce. Each SREC represents 1,000 kilowatt-hours of solar energy generated and can be sold for additional income. This program can significantly offset the costs of roof replacements when solar panels are installed.

5. Utility Company Rebates

Many utility companies in New Jersey provide rebates for energy-efficient home improvements. These rebates help homeowners reduce their energy consumption, which benefits both the homeowner and the utility company by lowering overall demand.

Why You Should Consider Replacing Your Shingle Roof

1. High Return on Investment: A new roof can recoup most—if not all—of its cost when you sell your home. Homes with new roofs often sell faster and at higher prices.
   
2. Improved Curb Appeal: A new roof improves your home’s appearance and desirability on the market.
   
3. Greater Energy Efficiency: Modern roofing materials reflect sunlight and improve insulation. This can lead to lower energy bills by reducing reliance on heating and cooling systems.
   
4. Improved Safety: A new roof provides better protection against the weather and reduces the risk of leaks, structural damage, and potential collapse.
   
5. Healthier Home Environment: Replacing an old roof can eliminate mold and moisture issues that may arise from leaks. A new roof helps maintain a dry interior and promotes better air quality for your family.
   
6. Warranty Protection: New roofs installed by a trusted roofing contractor like Elevated Remodeling come with a warranty that covers defects or damage.
   
7. Reduced Future Repair Costs: A new roof minimizes the likelihood of leaks and other issues, reducing the need for frequent repairs.
   
8. Improved Structural Integrity: Roof replacement creates an opportunity to inspect and repair underlying structures.

Choose Elevated Remodeling for New Jersey Shingle Roof Replacement

When replacing your shingle roof, you want a company you can trust. At Elevated Remodeling we aim to be the top choice for New Jersey homeowners because of our affordability, quality, and service excellence. We offer a range of services to help you improve your home, including:

• Replacement windows: Improves energy efficiency, comfort, and curb appeal.
  
• Replacement siding: Upgrade your siding to improve weather protection and insulation.
  
• Replacement roofing: Maintains structural integrity while improving energy efficiency.
  
• Replacement doors: Improve security, insulation, and curb appeal.

If you’re ready to replace your roof and take advantage of New Jersey’s tax credits and rebates, call us at 800-672-8519 or click on the “request a quote” button on the top right corner to get a free consultation and a custom quote.

Frequently Asked Questions (FAQs)

How much can I save with tax credits?

You can claim a tax credit amounting to 30% of the cost of qualifying roofing materials, with a cap of $1,200. This excludes installation costs.

What types of roofing materials qualify for the tax credit?

Only ENERGY STAR®-certified roofing products qualify for the tax credit. These materials are designed to improve energy efficiency by reducing heat gain and increasing insulation.

Can I claim the tax credit for a rental property?

No, the tax credit is only available for roofing replacements on your primary residence. Rental properties and new constructions are excluded from this tax credit.

What documentation do I need to claim the tax credit?

You will need receipts for the roofing materials, proof of payment, and certification that the materials are ENERGY STAR® compliant. Additionally, you must fill out IRS Form 5695 and include it with your yearly tax return.

How does Elevated Remodeling ensure quality in their work?

We emphasize quality craftsmanship and attention to detail in every project. We hold ourselves accountable to high standards of excellence by inspecting our work before completing a project.