Nationally, taxpayers claimed upwards of $6 billion in residential clean energy credits for investments including solar electricity generation, solar water heating and battery storage. The Residential Clean Energy Credit is available for primary residents of a home that install new clean energy property from 2022 through 2032, including solar electric panels, wind turbines, solar water heaters, geothermal heat pumps and fuel cells or battery storage technology.
Taxpayers claimed another $2 billion for energy efficient home improvements, including insulation, windows and doors, heat pumps and efficient air conditioners. Taxpayers can qualify for home efficiency tax credits if they make certain improvements to their homes (primary residences only) between Jan. 1, 2023 and Jan. 1, 2033, according to the IRS.
Funding for the tax credits came from the 2022 Inflation Reduction Act.
Good stuff
Boosting home energy efficiency nets Tennesseans $64M in tax credits
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Tennessee and the IRA
This may sound good. However rebates for Tennesseans are not available until 2025 several years after the bill passed. I also purchased an electric car , which I love BTW. However because of whatever political favor this administration owes I don't get the 30% tax credit because I bought a Hyundai. A car actually more affordable than the ones covered by the IRA. In reality I don't think this bill accomplished anything for the working class in this country.