Storm windows can be very effective at cutting down on energy loss and window drafts. If you’re thinking about buying new storm windows, be aware that U.S. taxpayers can take advantage of 2010 or 2011 federal tax credits to help offset the cost.

What is covered? A storm window that, in combination with an exterior window: 1) has a U-factor and SHGC (Solar Heat Gain Coefficient) of 0.30 or below and 2) meets the prescriptive criteria for such components established by the IECC (International Energy Conservation Code). This is complicated, so check out the specifics with the dealer before making your purchase.

The amount of the 2010 federal tax credit is 30% of the material cost, up to $1,500.The 2011 federal tax credit covers 10% of the cost up to $200. Installation costs are not included.

Note that to receive the 2010 credit, the storm windows must have been placed into service between January 1, 2009, and December 31, 2010, on your principal residence. For the 2011 credit, they must be installed by December 31, 2011.

A Manufacturer’s Certification (a statement from the manufacturer certifying that the product qualifies for the tax credit) is often available from the manufacturer’s website. This statement should incude information about the performance of the storm window when placed over various specific types of windows. Keep this in your tax records along with your receipt. When filing your federal tax return, submit IRS Form 5695.