Energy and Vehicle Credits

Explore the tax benefits available for energy-efficient home improvements and the purchase of clean vehicles. This guide provides an overview of the available credits, eligibility criteria, and limitations, helping taxpayers maximize their savings through federal incentives.

Highlights:

• Energy Efficient Home Improvement Credit: Credit for qualifying energy-efficient home improvements, subject to annual limitations.

• Residential Clean Energy Credit: Credit for installing renewable energy systems, such as solar panels and wind turbines, in your home.

• Clean Vehicle Credit: Credit for purchasing new or used qualified plug-in electric and fuel cell vehicles, with specific eligibility requirements and credit amounts.

• Nonrefundable Credits: General note that these credits can only reduce your tax liability to zero and cannot result in a refund.