Under the Inflation Reduction Act of 2022, federal income tax credits for energy-efficient home improvements will be available through 2032. A broad selection of ENERGY STAR certified equipment is eligible for the tax credits.
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30% income tax credit
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Geothermal
30% income tax credit
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Tankless Water Heaters
30% income tax credit
(up to $600)[/vc_column_text][nectar_btn size=”small” button_style=”regular” button_color_2=”Accent-Color” icon_family=”none” el_class=”page-btn” text=”Tankless Water Heater Details” margin_top=”30″ margin_bottom=”20″ url=”#Water-Heaters”][/vc_column_inner][/vc_row_inner][vc_row_inner disable_element=”yes” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left” row_position=”default” row_position_tablet=”inherit” row_position_phone=”inherit” overflow=”visible” pointer_events=”all”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” 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column_padding_type=”default” gradient_type=”default”][vc_custom_heading text=”More Savings” font_container=”tag:h2|font_size:35px|text_align:center|color:%23ffffff|line_height:42px” use_theme_fonts=”yes” css=””][vc_column_text css=”” text_direction=”default”]
Find out if your local energy provider has available rebates & incentives for qualifying equipment.
[/vc_column_text][nectar_btn size=”small” open_new_tab=”true” button_style=”see-through-3″ hover_text_color_override=”#ffffff” icon_family=”none” el_class=”service-btn” text=”Find available savings” margin_top=”30″ margin_bottom=”30″ url=”#”][/vc_column_inner][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” top_margin_phone=”40″ column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” overflow=”visible” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/4″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” column_padding_type=”default” gradient_type=”default” offset=”vc_hidden-xs”][image_with_animation image_url=”7204″ image_size=”full” animation_type=”entrance” animation=”None” animation_movement_type=”transform_y” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default” translate_x_desktop=”100″ el_class=”imge-display”][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” top_margin=”50″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” id=”Heat-Pumps” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” gradient_type=”default” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” el_class=”cs_faq_section” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/2″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” column_padding_type=”default” gradient_type=”default”][image_with_animation image_url=”7776″ image_size=”full” animation_type=”entrance” animation=”None” animation_movement_type=”transform_y” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/2″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][split_line_heading animation_type=”line-reveal-by-space” font_style=”h2″ text_color=”#000000″ font_size_min=”32px” font_size_max=”32px” line_reveal_by_space_text_effect=”default” content_alignment=”left” mobile_content_alignment=”inherit” link_target=”_self” text_content=”Air Source Heat Pumps Tax Credit” text_direction=”default” font_size=”32px” font_line_height=”38px”][/split_line_heading][toggles style=”default” border_radius=”none”][toggle color=”Default” heading_tag=”default” heading_tag_functionality=”default” title=”What Products are Eligible?”][vc_column_text css=”” text_direction=”default” el_class=”cs_faq_content”]For heat pumps, ENERGY STAR offers a general certification and a cold climate certification.In general, all ducted heat pumps that have earned the ENERGY STAR label are eligible, as well as certified mini-split systems (non-ducted) with:
- SEER2 ≥ 16
- EER2 ≥ 12
- HSPF2 ≥ 9
Among the models that earn the ENERGY STAR Cold Climate designation, eligible systems are:
- ducted with EER2 ≥ 10
- mini-splits with
- SEER2 ≥ 16
- EER2 ≥ 9
- HSPF2 ≥ 9.5
Note: The information provided here about Air-Source heat pumps that are eligible for the tax credit is the most current available. Currently, eligible equipment must “meet or exceed the highest efficiency tier (not including any advanced tier) established by the Consortium for Energy Efficiency which is in effect as of the beginning of the calendar year.” The eligibility requirements are subject to change based on the final CEE Criteria and the Internal Revenue Service (IRS).[/vc_column_text][vc_column_text][/vc_column_text][/toggle][toggle color=”Default” heading_tag=”default” heading_tag_functionality=”default” title=”Annual Limits on Energy Efficient Home Improvement Tax Credits”][vc_column_text css=”” text_direction=”default” el_class=”cs_faq_content”]In addition to limits on the amount of credit you can claim for any particular equipment installation or home improvement, there are annual aggregate limits. The overall total limit for an efficiency tax credit in one year is $3,200. This breaks down to a total limit of $1,200 for any combination of home envelope improvements (windows/doors/skylights, insulation, electrical) plus furnaces, boilers and central air conditioners. Any combination of heat pumps, heat pump water heaters and biomass stoves/boilers are subject to an annual total limit of $2,000. (Note: ENERGY STAR certified geothermal heat pumps are eligible for a separate tax credit and not counted against these limits.)[/vc_column_text][vc_column_text][/vc_column_text][/toggle][toggle color=”Default” heading_tag=”default” heading_tag_functionality=”default” title=”Who can use this credit?”][vc_column_text css=”” text_direction=”default” el_class=”cs_faq_content”]Principal Residence Owners
Upgrades must be to an existing home & your principal residence. New construction and rentals do not apply.
A principal residence is the home where you live most of the time. The home must be in the United States. It can include a house, houseboat, mobile home, cooperative apartment, condominium, and a manufactured home.[/vc_column_text][vc_column_text][/vc_column_text][/toggle][toggle color=”Default” heading_tag=”default” heading_tag_functionality=”default” title=”How can I maximize my tax credits?”][vc_column_text css=”” text_direction=”default” el_class=”cs_faq_content”]
Given the way the annual aggregate limits are structured, it may be prudent to spread your improvements over a few years. If your heating or cooling system is old, and you are considering a new air source heat pump, it is always wise to optimize your attic insulation first, so you don’t pay for more heating and cooling than you actually need. Making these upgrades together in one year would allow you a tax credit of up to $1,200 for the insulation and up to $2,000 for the heat pump. Similarly, you could combine a heat pump installation with window/door replacements. In that scenario, the $2,000 credit for the heat pump could be combined with tax credits up to $600 total for the windows/skylights plus $500 for two or more doors. If you replace your water heater the following year, you would be eligible for another 30% tax credit, up to $2,000 plus up to $600 if you need an electric panel upgrade to accommodate the new water heater.
Equipment which:
- (1) uses the ground or ground water as a thermal energy source (to heat), or as a thermal energy sink (to cool) a home, and
- (2) is ENERGY STAR certified.
Qualified geothermal heat pump property expenditure:
An expenditure for qualified geothermal heat pump property installed on or in connection with the taxpayer’s residence.[/vc_column_text][vc_column_text][/vc_column_text][/toggle][toggle color=”Default” heading_tag=”default” heading_tag_functionality=”default” title=”Who can use this credit?”][vc_column_text css=”” text_direction=”default” el_class=”cs_faq_content”]Existing homes and new construction qualify. Both principal residences and second homes qualify. Rentals do not qualify.
This system must be installed in connection with a dwelling unit located in the United States and used as a residence by the taxpayer. The home served by this system does not have to be the taxpayer’s principal residence.
A principal residence is the home where you live most of the time. The home must be in the United States. It can include a house, houseboat, mobile home, cooperative apartment, condominium, and a manufactured home.[/vc_column_text][vc_column_text][/vc_column_text][/toggle][/toggles][/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/2″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][image_with_animation image_url=”7778″ image_size=”full” animation_type=”entrance” animation=”None” animation_movement_type=”transform_y” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” top_padding=”50″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” id=”Water-Heaters” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” gradient_type=”default” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” el_class=”cs_faq_section” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/2″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” column_padding_type=”default” gradient_type=”default”][image_with_animation image_url=”7787″ image_size=”full” animation_type=”entrance” animation=”None” animation_movement_type=”transform_y” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/2″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][split_line_heading animation_type=”line-reveal-by-space” font_style=”h2″ text_color=”#000000″ font_size_min=”32px” font_size_max=”32px” line_reveal_by_space_text_effect=”default” content_alignment=”left” mobile_content_alignment=”inherit” link_target=”_self” text_content=”Water Heaters (Natural Gas) Tax Credit” text_direction=”default” font_size=”32px” font_line_height=”38px”][/split_line_heading][toggles style=”default” border_radius=”none”][toggle color=”Default” heading_tag=”default” heading_tag_functionality=”default” title=”What Products are Eligible?”][vc_column_text css=”” text_direction=”default” el_class=”cs_faq_content”]Gas storage water heaters
ENERGY STAR certified models are eligible as follows: ≥ 0.81 UEF for tanks less than 55 gallons and ≥ 0.86 UEF for tanks greater than or equal to 55 gallons.
Tankless gas water heaters
ENERGY STAR models with ≥ 0.95 UEF are eligible.[/vc_column_text][vc_column_text][/vc_column_text][/toggle][toggle color=”Default” heading_tag=”default” heading_tag_functionality=”default” title=”Annual Limits on Energy Efficient Home Improvement Tax Credits”][vc_column_text css=”” text_direction=”default” el_class=”cs_faq_content”]In addition to limits on the amount of credit you can claim for any particular equipment installation or home improvement, there are annual aggregate limits. The overall total limit for an efficiency tax credit in one year is $3,200. This breaks down to a total limit of $1,200 for any combination of home envelope improvements (windows/doors/skylights, insulation, electrical) plus furnaces, boilers and central air conditioners. Any combination of heat pumps, heat pump water heaters and biomass stoves/boilers are subject to an annual total limit of $2,000. (Note: ENERGY STAR certified geothermal heat pumps are eligible for a separate tax credit and not counted against these limits.)
[/vc_column_text][vc_column_text][/vc_column_text][/toggle][toggle color=”Default” heading_tag=”default” heading_tag_functionality=”default” title=”Who can use this credit?”][vc_column_text css=”” text_direction=”default” el_class=”cs_faq_content”]Principal Residence Owners
Must be an existing home & your principal residence. New construction and rentals do not apply.
A principal residence is the home where you live most of the time. The home must be in the United States. It can include a house, houseboat, mobile home, cooperative apartment, condominium, and a manufactured home.
Tax credits are administered by the IRS. You will claim the credit at the time of your yearly income tax preparation and submit it with your tax returns to the IRS using the form below:
[/vc_column_text][toggles style=”default” border_radius=”none”][toggle color=”Default” heading_tag=”default” heading_tag_functionality=”default” title=”Forms”][vc_column_text css=”” text_direction=”default” el_class=”cs_faq_content”]- Form 5695 Instructions: https://www.irs.gov/pub/irs-pdf/i5695.pdf
- Form 5695: https://www.irs.gov/pub/irs-pdf/f5695.pdf
