Can I deduct the cost of new siding for my house?

[steveb_in_co]

The siding should result in increased energy efficiency.

[Mike9241]

No deduction but there may be a residential energy tax credit.  form 5695

https://www.irs.gov/pub/irs-pdf/p5967.pdf 

[Opus 17]

Possibly.  Although there is a credit for energy saving improvements (including efficient doors and windows), siding is not included.  There is a specific credit for "insulation material or system (include air sealing material or
system) specifically and primarily designed to reduce heat loss or gain of your
home that meets the criteria established by the IECC."    This again does not include siding because the siding is not "primarily designed to reduce heat loss or gain."  However, if as part of the siding installation, you do a house wrap or otherwise add insulation, and the insulation meets the criteria established by the IECC, then that part of the job might be eligible.  This particular credit is 30% of materials, not including installation costs, up to a maximum of $1200.