Take Use of Federal Electrification Incentives Before They’re Gone!

Did you know that electrification can reduce GHG emissions, improve your homes’ safety, and lower your energy bill long term? To reduce the initial cost of electric vehicles and home electrification upgrades, federal incentives have been available to participating residents, but they won’t last long! If you are interested in electrifying, now is the time to take use of these incentives.

Upgrade your home with the Energy-Efficient Home Improvement Credit and the Residential Clean Energy Credit. You can claim up to $3,200 with the Energy Efficient Home Improvement Credit. Participants receive $2,000 off their federal taxes for a qualifying heat pump HVAC or heat pump water heater and up to an additional $1,200 credit on other energy efficient upgrades such as insulation and air sealants on windows and doors. The Residential Clean Energy Credit takes 30% of the cost of a clean energy installation off your federal tax bill for as many (qualified) projects as you want! This includes solar photovoltaic panels, solar water heaters, home battery storage, geothermal heat pumps, and more. Both of these incentives expire on December 31.

You can find a full list of federal clean energy tax credits on energy-efficient appliances and their expiration dates on Rewiring America’s customizable calculator.

Upgrade your ride with the New Clean Vehicle Credit and the Used Clean Vehicle Credit. The New Clean Vehicle Credit can get you $7,500 off your federal tax bill for a brand new, qualifying EV model under certain income qualifications.  The Used Clean Vehicle Credit takes off $4,000 your federal tax bill on qualifying pre-owned EVs for income qualified residents as well. Both of these credits can be received right at the dealership and expire soon on September 30th.

Act fast with these electrification opportunities! The expiration dates are fast approaching, and the available funding is at a ‘use it or lose it’ state.