The current $1500 energy efficiency tax credit has helped many homeowners upgrade their homes and save money on energy-saving products, such as replacement windows, doors, insulation and more. Unfortunately, the current tax credit expires at midnight of December 31, 2010. There has been a lot of speculation about the credit being extended, but the extension discussion has subsided.
However, on Friday Window & Door magazine reported that Congress has passed legislation that would extend the bush era tax credits, but leave the expiring $1500 tax credit for energy efficiency as is….expiring. The final bill has the new 2011 tax credit to be up to $200 for Energy Star replacement windows and $500 for Energy Star replacement doors. More details on the final bill should be released in the next week.
As the current $1500 replacement window & door tax credit comes to an end over the next few days, it will be remembered as an effective stimulus to many homeowners as well as energy efficiency product manufacturers and installing contractors.
Congress passes legislation that reinstates Bush-era tax credits for energy efficiency purchases. (Photo Credit: Andrew Bossi)
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