Energy Efficient Tax Credit
If you are thinking about making energy improvements to your home, it is important to know the changes that happened as a result of the Inflation Reduction Act of 2022. The energy-efficient credit was limited to a lifetime maximum, however, now you can take this credit yearly. If you purchased or installed energy systems beginning in 2023, you could qualify for a credit of up to 30% on qualifying energy expenses. Now is a great time to make energy improvements if they have been on your mind. Energy.gov and the IRS has a detailed breakdown of equipment types and the tax credit that is available.