Tax Rebates
Unlock Savings & Navigating Tax Rebates for Eco-Friendly Choices
Explore the financial incentives that reward your green home investments.
IRS Form 8936
Electric and Plug-In Hybrid Electric Vehicles
The Inflation Reduction Act offers significant incentives for electric and plug-in hybrid electric vehicles. The New Clean Vehicle Credit, which is an amendment to the previous Qualified Plug-In Electric Drive Motor Vehicle Credit, provides a total credit of up to $7,500. This credit is divided into two sections: the first half relates to battery storage, requiring a certain percentage of the EV's battery to be manufactured and assembled in North America. The second half, known as the 'critical minerals requirement', mandates a percentage of the minerals used in the battery to be sourced from the U.S. or countries with which the U.S. has a free-trade agreement.
IRS Form 5695
Residential Clean Energy
The Residential Clean Energy Credit in the United States allows homeowners to claim a tax credit for installing qualifying renewable energy equipment in their homes. This includes solar panels, wind turbines, geothermal heat pumps, and fuel cells. This credit is available for installations from 2022 through 2032, with the percentage rate decreasing in later years.
IRS Form 5695
Federal Tax Credit for Solar Photovoltaics
The Residential Clean Energy Credit in the United States allows homeowners to claim a tax credit for installing qualifying renewable energy equipment in their homes. This includes solar panels, wind turbines, geothermal heat pumps, and fuel cells. This credit is available for installations from 2022 through 2032, with the percentage rate decreasing in later years.