Industry Veteran Named Architectural Window Films Product Manager at XPELApril 12th, 2023 by Chris Collier
Industry veteran Boon Khee Yeo has been hired as the new product manager of architectural window films for XPEL, a global provider of protective films and coatings. Yeo has more than 15 years of experience and joins the company to advance its focus on the architectural film segment.
Joining the Team
“What struck me about XPEL are the investments they’re willing to make in the architectural film segment,” Yeo says. “They’re prepared to make a lot of investments to grow the business because they believe in the potential and the market growth. It struck me as a good opportunity to grow and further my career; to help them grow the architectural film segment.”
Yeo studied mechanical engineering and technology management at the National University of Singapore. He previously worked at Eastman Chemical Company as a technical services manager and is the founder/director of film supplier CougarShield International.
An Architectural Tidal Wave
XPEL’s director of architectural films Harry Rahman shares a connection of 15 years with Yeo. Yeo’s technical knowledge and expertise will contribute to a new mission centered on commercial and residential window film products, says Rahman.
“We have done a great job on the automotive side, and we already have millions of customers that we can cross-sell to,” Rahman says. “We have relationships with Rivian and other car manufacturers. [And] there is a new wave today. That wave is the Inflation Reduction Act … With Yeo here, we are going to create, innovate and find better technologies. It’s going to be really exciting.”
As part of the Inflation Reduction Act of 2022—signed into law on August 16, 2022—residential energy efficiency tax credits have been extended through 2032 and may apply to window films. The act could lead to an increase in architectural film projects.
According to the Internal Revenue Service (IRS), from 2023 through 2032, annual tax credits of up to 30% of the cost of the improvement, to an annual maximum tax credit of $1,200, may be given to consumers.
Under the existing IRS provision and the International Energy Conservation Code (IECC), window film qualifies as an insulation material or system that is specifically and primarily designed to reduce heat loss or gain of a home. The provision for 2022 provided a 10% tax credit with a lifetime maximum of $500. The new law increases the amount of the credit and extends the credit to 2032. In addition, the new law repeals the requirement that expenditures must be made with respect to the taxpayer’s principal residence.
Under the provisions of the IRA, the tax credits have certain income limitations. Consumers are encouraged to check with their tax advisor to determine their eligibility and tax credits that may be used. In the IRS code, the measure is called a 25C tax credit, after the section of the tax code that started in 2006 and is labeled a “nonbusiness energy property credit;” now it is renamed as an “energy-efficient home-improvement credit.”
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