The Inflation Reduction Act introduced significant new clean energy tax credits. Here's a plain-English guide to what's available and how to claim it.

Inflation Reduction Act Tax Credits

Residential Clean Energy Credit (30%)

Available through 2032:

Solar panels and solar water heaters
Wind turbines
Geothermal heat pumps
Battery storage (must be charged from renewable sources)
Fuel cells

No income limit. No dollar cap. Excess credit carries forward.

Energy Efficient Home Improvement Credit

Up to $3,200/year:

$1,200 for insulation, windows, doors, energy audits, electric panel upgrades, heat pumps (in combined $1,200 limit)
$2,000 for heat pump water heaters, heat pump HVAC, biomass stoves

Clean Vehicle Credit (Form 8936)

Up to $7,500 for new qualifying electric vehicles
$3,750 for vehicles meeting critical minerals OR battery component requirements
$7,500 for vehicles meeting both
Income limits: $150,000 single / $300,000 MFJ
Vehicle MSRP limits: $55,000 for cars, $80,000 for SUVs/trucks/vans

Used Clean Vehicle Credit

Up to $4,000 (or 30% of sale price) for used qualifying EVs
Income limits: $75,000 single / $150,000 MFJ
Vehicle price must be $25,000 or under

Point-of-Sale Credits

Starting 2024, consumers can transfer EV and energy credits to dealers in exchange for a reduction in purchase price.

Made clean energy improvements or bought an EV? These credits can be significant — we'll ensure you claim them.

How Inflation Reduction Act Tax Credits Work