If you're interested in purchasing Energy Star® products or installing renewable energy systems in your home or business, you may be eligible for energy tax credits that can reduce your costs.
Energy Saving Home Appliances
If you purchase an Energy Star® energy-efficient product or renewable energy system for your home, you may be eligible for a federal tax credit.
Inflation Reduction ACT (IRA) Information
In 2022, President Joe Biden signed into law the Inflation Reduction Act (IRA). Among other things, this bill aims to invest in energy production and reduce carbon emissions in the United States. This broad legislative package providing for $369 billion toward fighting climate change.
Please note, information regarding the IRA is constantly being updated. We’re providing links to some resources that may be useful.
For more information, see this list of current resources:
- ENERGYSTAR: https://www.energystar.gov/about/federal_tax_credits/non_business_energy_property_tax_credits
- US HOUSE WAYS AND MEANS: N:\inflation_reduction_act\UPDATED Whitehouse Inflation Reduction Act.pdf
- IRS FACT SHEET: regarding frequently asked questions about energy efficient home improvements and residential clean energy property credits https://www.irs.gov/pub/taxpros/fs-2022-40.pdf
- Department of Energy: https://www.energy.gov/articles/biden-harris-administration-opens-applications-states-and-territories-implement-85-billion
- Minnesota is currently developing the State rebate program associated with the Federal Inflation Reduction Act. To follow that progress, click here. https://mn.gov/commerce/energy/consumer/energy-programs/
Articles About Tax Credits
How to Leverage Inflation Reduction Act (IRA) Tax Credits for Energy Savings in Your Older Home
Should You Wait to Take Advantage of Home Improvements with the new Federal Inflation Reduction Act?
Maximize the Inflation Reduction Act with Home Energy Upgrades