There are no specific income limits mentioned in the current federal tax incentives for energy storage or clean energy installations in the United States. However, there are some limitations and requirements that apply:
- Credit Limitations: For energy storage technologies, homeowners can claim a tax credit of up to 30% of qualified expenditures for energy storage of at least 3 kWh capacity under Section 25D, but there is no income limit specified for this credit.
- Residential Clean Energy Credit: This credit also offers a 30% tax credit for new clean energy property, including energy storage systems installed after 2021 and before 2033. Again, there are no income limits, but the credit phases down over time.
- Annual Credit Caps: While there are no income limits, the Energy Efficient Home Improvement Credit has annual caps on the amount of credit that can be claimed. For example, up to $3,200 annually can be claimed for various energy-efficient improvements.
In summary, federal energy storage incentives do not have specific income limits, but there are annual caps on the total credit that can be claimed.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-are-the-specific-income-limits-for-claiming-federal-energy-storage-incentives/
