Yes, you can claim tax credits for both solar installations and energy-efficient home improvements. The U.S. government offers two primary credits for these purposes:
- Residential Clean Energy Credit: This credit is available for solar installations, such as solar panels and solar water heaters. It provides a 30% tax credit on the cost of these systems, with no annual or lifetime limit, if installed between 2022 and 2032.
- Energy Efficient Home Improvement Credit: This credit provides up to $3,200 annually for other qualified energy-efficient improvements made to your home, such as energy audits and specific home upgrades, starting from January 1, 2023.
Both credits are available under the Inflation Reduction Act, which was passed in August 2022, enhancing these tax incentives for homeowners. However, ensure that the specific improvements or installations meet the eligibility criteria outlined by the IRS.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/can-i-claim-tax-credits-for-both-solar-and-energy-efficient-home-improvements/
