Homeowners can now get tax credits by upgrading with energy-efficient appliances
Homeowners to Get Tax Credits through Energy Efficient Upgrades
Tax credits are made available through the Inflation Reduction Act. This allows up to $10,000 in credit and rebates. Homeowners can be eligible if they make way for home improvements using energy-efficient appliances. They must make sure that they install new equipment to avail of the tax credit.
The list of eligible homes are as follows: houses, houseboats, mobile homes, cooperative apartments, condominiums, and manufactured homes. This comes with no income limits since there is a cap on the amount you can claim.
List of Equipment Eligible for Credits
You will be credited equivalent to the full cost of the equipment up to a certain cap says The US Sun. Here are the following items eligible for tax credits up to the maximum amount:
- Air source heat pumps with a maximum credit of $2,000
- Central air conditioner with a maximum credit of $600
- Natural gas and propane hot water boilers with a maximum credit of $600
- Biomass stoves and boilers with a maximum credit of $2,000
- Natural gas and oil furnaces with a maximum credit of $600
- Heat pump water heaters with a maximum credit of $200`
- Natural gas water heaters with a maximum credit of $600
- Electric panel upgrade with a maximum credit of $600
- Exterior windows and skylights with a maximum credit of $600
- Exterior doors with a maximum credit of $250 for each door, or $500 maximum for all doors per year.
- Insulation materials with a maximum credit of $1,200
The maximum credit homeowners can get will be $2,000 a year in relation to the given list.