Last December President Obama signed into law the Tax Relief, Unemployment Insurance Re-authorization, and Job Creation Act of 2010.
According to this law taxpayers that own their own homes can get a tax credit if they install energy efficient windows, doors and/or skylights into their homes.
To be eligible to receive the tax benefits the windows, skylights and doors must:
• Conform to all the Energy Star Program requirements.
• Be put into the main residence of the taxpayer.
• Be added to the home before the date of December 31, 2011.
The tax credit is 10% of the cost of the product, not including installation and cannot exceed:
- $200 for either windows or skylights
- $500 for doors
IDT Energy recommends taking advantage of these tax credits in order to lower your energy usage during the year and thus saving money on your energy bill.