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- Tax Credit
IRA Statuatory Location:
13301
Tax Code Location:
26 U.S. Code § 25C
New or Modified Provision:
Modified and extended. Credit rate increased from 10% to 30%. Eligibility and standards are modified. $500/per taxpayer lifetime limit eliminated and replaced with increased annual limits.
Eligible Recipients:
Homeowners and renters
Tribal Eligibility:
Yes
Bureau/Office
Funded by:
U.S. Department of Treasury
Description
Provides a tax credit for energy-efficiency improvements, home energy audits, and residential energy property, such as qualified home heating and cooling systems.
Direct Pay Eligibility:
No
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
2023-2032
Tax Mechanism:
Consumer Tax Credit
Base Credit Amount:
30% of cost, with limits for each type of improvement and total per year. 30% up to $150 dollars for a home energy audit. Up to $600 for “energy property,” e.g. efficient heating and cooling equipment; $600 for windows; $250 per door, $500 total for doors; $2,000 for heat pumps. Total annual credit capped at $1,200 per year for all building envelope components. Electric or natural gas heat pump water heaters, electric or natural gas heat pumps, and biomass stoves and biomass boilers have a separate aggregate yearly credit limit of $2,000.
Bonus Credit Amount:
None