Is it time to re-roof your home? If you are considering the possibility of installing new asphalt or metal roofing, be sure to check out Energy Star qualified materials. If you choose these, you’ll be able to take advantage of the 2010 U.S. federal tax credits that have been set up to offer you an incentive and some financial support for making this important energy-saving home improvement.

What is covered? Any metal or asphalt (including shingles and modified bitumen rolled roof product) roofing material that has appropriate pigmented coatings specifically and primarily designed to reduce the heat gain of a dwelling unit when installed on the dwelling. Roof coatings alone are not eligible for the credit.The material must meet or exceed Energy Star program requirements in effect at the time of installation. The material must be installed on your principal residence and be expected to last 5 years or have a 2-year warranty.

Amount of federal tax credit: 30% of the cost, up to $1500 (does not include installation costs).

Notes: The material must be placed into service between January 1, 2009, and December 31, 2010. A Manufacturer’s Certification (a signed statement from the manufacturer certifying that the product qualifies for the tax credit), which is often available from the manufacturer’s Web site, should be kept in your records along with your receipt. When filing, submit IRS Tax Form 5695 (version 2010) with your tax return.