Energy Credits for 2018 thru 2020

Nonbusiness Energy Property Credit.

This credit applys to improvements such as adding insulation, energy efficient exterior windows and doors and energy-efficient heating and air conditioning systems. It has been extended to the end of 2020. The credit is generally 10% of the cost up to a maximum of $500. However, that limit is lifetime, not per year so you will need to know what credits you have already claimed since 2006.

Residential Energy Efficient Property Credit.

This nonrefundable energy tax credit will help individual taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters and solar electric systems. The credit is equal to 30 percent of the cost of qualified property in tax years 2018 & 2019, reduced to 26% in 2020, 22% in 2021 and expires in 2022 (unless they extend it again).

Find more information here on IRS.gov

Find details on qualification criteria at Energystar website



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