Clean energy tax credits featured in the Inflation Reduction Act

The Inflation Reduction Act (IRA) features several renewable energy and efficiency-related tax credits that may benefit homeowners and businesses in 2023. These include extending the Energy Efficient Home Improvement Credit through 2032 and increasing the amount of the credit from 10% to 30% for installing qualified equipment. Similarly, the Residential Clean Energy Tax Credit has risen to 30% for 2022 through 2032. Also, the list of eligible technologies for the Business Energy Investment Tax Credit has been expanded. And the IRA extended the Energy Efficient New Homes Tax Credit for Home Builders and lifts the credit and bonus amounts if certain payroll conditions are met. Reach out to our team today to discuss the IRA and these clean energy credits.