If you've done home improvements that qualify as energy efficient then those improvements may earn you some tax credits.
Got Clean Energy?
Your home improvements may qualify for "home energy tax credits". There are two tax credits to help offset the costs for homeowners making energy efficient improvements to their homes.
In some cases, renters may also be able to claim specific costs; however, landlords can’t use these credits for improvements made to any homes they rent out.
Credit #1 :Energy Efficient Home Improvement Credit
Improvements such as:
Exterior doors, windows, skylights and insulation materials.
Central air conditioners, water heaters, furnaces, boilers and heat pumps.
Biomass stoves and boilers.
Home energy audits.
These improvements have to be made to an existing home (not a home in progress or newly constructed houses)
The amount of the credit taxpayers can take is a percentage of the total improvement expenses in the year of installation:
2022: 30%, up to a lifetime maximum of $500.
2023 through 2032: 30%, up to a maximum of $1,200 annually. Biomass stoves and boilers have a separate annual credit limit of $2,000 annually with no lifetime limit.
Credit #2: Residential Clean Energy Credit
This credit may be claimed for qualifying costs for either an existing home or a newly constructed home. Qualifying costs may include:
Solar, wind and geothermal power generation equipment.
Solar water heaters.
Fuel cells.
Battery storage.
The amount of the credit taxpayers can take is a percentage of the total improvement expenses in the year of installation:
2022 to 2032: 30%, no annual maximum or lifetime limit.
2033: 26%, no annual maximum or lifetime limit.
2034: 22%, no annual maximum or lifetime limit.
How do I claim these credits?
To claim these credits all you need to do is fill out this form when you file your tax return:
