Tax Credits and Rebates for Homeowners
The Inflation Reduction Act (IRA) is directing an unprecedented $369 billion toward energy saving initiatives through tax credits. These tax credits will have numerous benefits including improved energy efficiency, reduced energy bills, and improved home comfort.
IRA tax credits include:
- Residential retrofit incentives
- New and retrofit commercial incentives
- New home incentives
- Efficient building envelopes through building codes
- Residential home improvement credits
These tax credits can be combined with local incentives for even bigger savings!
New Home Incentives
Builder credit of $2,500
For single-family homes that meet ENERGY STAR Version 3.2 and meet 2021 IECC prescriptive envelope standards
Builder credit of $5,000
For homes that meet DOE Zero Energy Ready Home standard
Builder Credit for Multifamily Units
Builder credit of $500 / $1,000 for multifamily units, with incentives increasing to $2,500 / $5,000 when meeting prevailing wage requirements
law’s credit restored
Previous law’s credit restored through 2022. Enhanced credit amount applies from January 1, 2023 to December 31, 2032.
The Energy Efficient Home Improvement Credit
The Energy Efficient Home Improvement Credit is a federal tax credit equaling 30% of the total cost for a variety of energy efficiency home upgrades, including qualifying insulation and air sealing expenses. There is an annual maximum credit of $1,200 for the category of upgrades that includes insulation.
Available to anyone with federal tax liability
Can be combined with other incentives and insulation rebates
$150 credit for energy audits
Can be claimed in multiple years
(but not for the same upgrade)
Unlock savings with our tax credit resource center
There are many components to this act and many ways you can save; tax credits are subject to program changes. Learn how you can benefit from tax credits.
Tax Credit FAQs Document
Full Tax Credit Information
Calculate Your Tax Credit
How to Claim the Tax Credits
Learn how tax credits can help your project
Our team is happy to answer questions. Contact us today and learn how you can benefit from tax credits.