Tax Credits - Boyd Heating & Cooling

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Federal Tax Credits Have Been Extended through 2023 and possibly longer
The Non-Business Energy Property Tax Credits outlined below apply retroactively through 12/31/2022.
Updates will be applied for 2023 and remain effective through 12/31/2032.
As part of the Inflation Reduction Act (IRA) of 2022, federal tax credits   for energy efficient home upgrades have been extended. Any qualifying   home improvements to your customer’s primary residence completed after   December 31, 2021, may be eligible for federal tax credits when filing   for tax year 2022. This is an opportunity for your customers to   potentially offset the cost of their qualifying home improvements even   further.

Savings for Homeowners
New  federal income tax credits are available through 2032 providing  up to  $3,200 annually to lower the cost of energy efficient home  upgrades by  up to 30 percent. Improvements such as installing heat  pumps, heat pump  water heaters, insulation, doors and windows, as well  as electrical  panel upgrades, home energy audits and more, are covered  by the tax  credits and can help families save money on their monthly  energy bills  for years to come.
In addition to the energy efficiency  credits, homeowners can also  take advantage of the modified and  extended Residential Clean Energy  credit, which provides a 30 percent  income tax credit for clean energy  equipment, such as rooftop solar,  wind energy, geothermal heat pumps and  battery storage through 2032,  stepping down to 22 percent for 2033 and  2034.

Savings for Home Builders
The  Inflation Reduction Act of 2022 updates and extends the Section  45L  New Energy Efficient Home Credit (§ 45L credit). For homes and   apartments (referred to as dwelling units in § 45L) acquired on or   after January 1, 2023, the tax credit for home builders is specifically   tied to certification to an eligible version of the relevant ENERGY  STAR  program requirements for single-family, manufactured, and  multifamily  homes, and the tax credit has been extended through 2032.

Savings for Commercial Building Owners
The  Inflation Reduction Act of 2022 extends and expands the energy   efficient commercial buildings deduction that was made permanent under   Section 179D in 2021. Buildings that increase their energy efficiency  by  at least 25 percent will be able to claim this deduction, with  bonuses  for higher efficiency improvements.

*Disclaimer:  The tax credit information contained within this  website is provided  for informational purposes only. It is not intended  to substitute for  expert advice from a professional tax/financial  planner or the Internal  Revenue Service (IRS).
"Get Rewarded: Federal Tax Credits for Your New Project"
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Local Energy Company Credits

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