The economy may not be the best, but believe it or not, now is a good time to tackle any home improvement project thanks to a new tax credit from the federal government. Between now and February 2010, homeowners can receive a tax break of up to $1,350 on renovations made to their home or cottage.

Under the new program, homeowners can receive a 15 per cent tax credit on renovation expenses between $1,000 and $10,000". Eligible expenses include: renovating a kitchen, adding new hardwood floors, or installing a skylight. If your looking for a project that can improve the home aesthetics and save energy, a new skylight can make spaces feel larger and are the ideal addition for attics or lofts. With the energy savings you can realize coupled with the limited time of the tax credit, there is no better time to improve the amount of natural light in your house.

If you already have skylights, replacing traditional bubble skylights with new flat glass skylights will help cut down on noise, drafts and provide improved durability. The annual energy savings from replacing an existing bubble skylight with a flat glass skylight is $200 based on a study by VELUX America.

Other options include easy to install handyman or DIY types as well as some deck mount types that provide additional thermal performance, preventing heat gain in the summer months and heat loss during the winter.

Replacing your old skylights with high efficiency models or installing new ones has never been more affordable.

VELUX is the world's largest manufacturer of Skylights and Sun Tunnels Skylights. For additional information please visit www.velux.ca or call 1 800-888-3589.