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- Tax Credit
IRA Statuatory Location:
13302
Tax Code Location:
26 U.S. Code § 25D
New or Modified Provision:
Modified and extended. Credit extended at 30% through 2032, with phasedown through 2034. Battery storage newly eligible in 2023; biomass fuel propertycredit eliminated.
Eligible Recipients:
Homeowners (including renters)
Tribal Eligibility:
Yes
Funded by:
U.S. Department of Treasury
Description
Provides a tax credit for the purchase of residential clean energy equipment, including battery storage with capacity of at least 3 kWh
Direct Pay Eligibility:
None
Transferability:
No
Stackability:
No rules
Energy Community Bonus:
No
Relevant Announcements
Related Resources
Additional information is available on the Resources page.Key Details
Period of Availability
2022-2032, with phasedown over 2033-2034.
Tax Mechanism:
Consumer tax credit
Base Credit Amount:
30% of cost of equipment through 2032; 26% in 2033; 22% in 2034.
Bonus Credit Amount:
None