Types of Roofing

• Roofing materials that may qualify for the tax credit are classified as "reflective roofs," because they reflect the sun's rays instead of allowing them to increase the temperature of your home. Asphalt roofing materials with cooling granules and metal roofing materials with pigmented coatings are considered reflective roofs. While all eligible roofing materials must be Energy Star-certified, this certification does not automatically qualify the materials for the tax credit. Also, coatings applied to an existing roof do not qualify.
  
  

Manufacturer Certification Statement

• To claim a tax credit for roof replacement, you must obtain a Manufacturer Certification statement. This statement certifies that the materials are eligible for the tax credit. Manufacturers typically provide Manufacturer Certification statements on their websites. If you cannot locate the statement, call the manufacturer. You do not need to include the statement with your tax return. Instead, keep it for your records and file IRS form 5695.
  
  

Tax Credit Restrictions

• As of September 2011, the tax credit is limited to 10 percent of the purchase price of qualifying roofing materials, up to a $500. You can only claim the cost of the materials; installation does not qualify for the tax credit. The roofing materials must be installed on your primary residence. You cannot claim the credit for installation on a second home or rental property. You can only claim the tax credit for the year during which the roof was "placed in service"--that is, completely installed and ready for use.
  
  

Considerations

• Regardless of whether a reflective roof is eligible for a tax credit, replacing your roof with Energy Star-certified reflective roofing materials saves money on your energy bills. These materials may allow you to run air conditioning less frequently, depending on how much sun exposure your roof receives and how well your attic is insulated.