Green Energy Tax Credits
See if you qualify for the Energy Efficient Home Improvement Credit or Residential Clean Energy Property Credit if you made improvements to your primary residence. You may also qualify for the Clean Vehicle Tax Credit if you purchased a vehicle that meets specific qualifications.
Energy Efficient Home Improvement Credit
The following home improvements may qualify you for the credit:
o Exterior doors, windows, skylights, and insulation materials
o Central air conditioners, water heaters, furnaces, boilers, and heat pumps
o Biomass stoves and boilers
o Home energy audits
Credit amounts
o 2022 – 30% up to a lifetime maximum of $500.00
o 2023 though 2032: 30% up to a maximum of $1,200.00 or $2,000 depending on improvement type, no lifetime limit
Residential Clean Energy Credit
The following home improvements may qualify you for the credit:
o Solar, wind, and geothermal power generation
o Solar water heaters
o Fuel cells
o Battery storage (beginning in 2023)
Credit Amount
o 2022 through 2032 – 30% of cost, no maximum dollar amount or lifetime limit
o 2033 – 26% of cost, no maximum dollar amount or lifetime limit
o 2034 – 22% of cost, no maximum dollar amount or lifetime limit
Home Energy Tax Credits: IRS Resource
Clean Vehicle Tax Credit
Qualifying vehicle
o If you purchased either a new plug-in electric (EV) or fuel cell vehicle (FCV) in 2023 or after, you may qualify.
Credit Amount
o January 01, 2023 to April 17, 2023 - $2,500 base amount
o April 18, 2023 and after - $3,750 or $7,500 depending on whether it meets one or both standards.
For more information on this credit, please review the official IRS credits page.
Disclaimer: The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Jeffrey Kurtz CPA LLC to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact Jeffrey Kurtz CPA LLC prior to taking any action based upon this information. Jeffrey Kurtz CPA LLC assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.