Money with Michael

IRS Energy Credit

Per the IRS an energy credit is a nonrefundable “credit” that can be applied for with the filing of your individual/business tax filing.

As of the close of the 2022 tax year, there is a 30-percent credit for certain qualified expenditures made by a taxpayer for energy-efficient property.

The two main categories we see normally see are: 

Residential energy property – This is limited to the lower of 30% of the item or $600 per item

1. central air conditioners;

2. natural gas, propane, or oil water heaters;

3. natural gas, propane, or oil furnaces and hot water boilers;

4. improvements to or replacements of panelboards, sub-panelboards, branch circuits, or feeders that are installed along with building envelope components

Residential Clean Energy Property - 30% of cost (no limit)

1. solar electric property expenditures (solar panels);

2. solar water heating property expenditures (solar water heaters);

3. fuel cell property expenditures. 

4. small wind energy property expenditures (wind turbines);

5. geothermal heat pump property expenditures; and

6. battery storage technology expenditures.


  • dsc_0983-edit-2%202-300?v=1

Related Businesses

Debbie Wiltse State Farm


Debbie Wiltse State Farm

Chandler, AZ

At State Farm, you're more than just a policy number, you're my neighbor. Like a good neighbor, State Farm is there.

Financial Planners/Advisors

Martin Tax & Financial Services

Lees Summit, MO

Edward Jones - Lee's Summit

Financial Planners/Advisors

Edward Jones - Lee's Summit

Lees Summit, MO

Edward Jones is a full-service financial services firm offering a complete range of investments and services to individual...

See More

Related Articles