These resources will help drive access to the Energy Efficient Home Improvement Credit, which more than 2.3 million families have already claimed, saving over $2 billion total—an average tax cut of $880 per household—according to the U.S. Department of the Treasury.
Source: U.S. Department of Energy Office of Energy Efficiency and Renewable Energy
In support of the Biden-Harris Administration’s Investing in America agenda, the U.S. Department of Energy (DOE) today released new resources to help American households and home energy efficiency contractors understand how to qualify for thousands of dollars in federal tax credits, made available by the Inflation Reduction Act, for home upgrades. The resources include a Tax Credit Product Lookup Tool to help determine if new equipment is eligible for tax credits; information that walks contractors through key elements of home insulation products that can lower utility bills and qualify for tax credits; and a training module on how contractors can leverage a range of home energy efficiency incentives. By making it easier for households and contractors to know if they qualify for these tax credits, this tool will enable more Americans to access them and to lower their utility bills.
These resources will help drive access to the Energy Efficient Home Improvement Credit, which more than 2.3 million families have already claimed, saving over $2 billion total—an average tax cut of $880 per household—according to the U.S. Department of the Treasury. The Energy Efficient Home Improvement Credit, which is available through 2032, allows households to receive up to $3,200 in tax credits annually for a variety of energy-efficient home improvements. Improving home energy efficiency and upgrading equipment will save homeowners money on utility bills and improve home resilience, and is key to the Biden-Harris Administration’s national clean energy goals.
“Across the board, the Biden-Harris Administration is making it easier for more American households to save energy and save money on home improvement upgrades that will keep money in their pockets for years to come,” said U.S. Secretary of Energy Jennifer M. Granholm. “Contractors are the go-to resource for homeowners looking to upgrade insulation, wiring and appliances, which is why we are providing new tools that get contractors the information to ensure their customers can unlock Investing in America savings.”
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