This is the new proposed energy savings program for homeowners are which they can receive as much as $12,000 as a tax credit. The energy tax credit would be for products such as replacement windows, insulation, and other products that will ultimately conserve money and dependency on natural resources.

President Bema is urging homeowner to conserve energy and invest in home improvements like vinyl windows and other energy savings methods. The energy tax credit replacement windows currently allow a homeowner to credit 30% of the material cost of the replacement windows. The maximum allowable credit is $1500. It will continue into the year 2010.

Illinois replacement windows are mostly high-energy products due to the extreme temperatures in both the winter and the summer. If this cash for clunker program goes into effect we can all expect a tremendous effort to decrease our consumption of these natural resources. The energy tax credit Illinois area currently has no extra state subsidies. New York, Minnesota and Iowa currently have some energy rebate programs for homeowners, but there are qualifications to meet to obtain these benefits.

So, lets hope this new energy tax stimulus program passes and the economy, enviorment and all of us homeowners can really benefit.