THE GULF COAST Blog

Tax Time - Claim Your Energy-Efficiency Credits!

If you added insulation to your home in 2022 (or before), you can receive a tax credit of up to 10% of the cost of the materials. If you install insulation in 2023 (or after), the insulation tax credit covers up to 30% of the costs associated with installing insulation in your home—up to a maximum of $1,200 per year.

To claim the insulation tax credit, you will need to file Form 5695 with your federal income taxes. This form is used to report energy-efficiency upgrades made to your home. When filing your taxes, be sure to include all information related to the insulation upgrade – including the cost of the insulation and the date it was installed.  You should keep your receipts from any qualified purchase and any statements you receive from the manufacturer or installer.

Additionally, you can claim a tax credit for any purchased solar attic fan materials by completing Form 5695 from the Internal Revenue Service. You should keep your receipts from any qualified purchase and any statements you receive from the manufacturer.

The credit can only be claimed on the “original installation” of the solar equipment. The following expenses are included: Solar PV panels or PV cells (including those used to power an attic fan, but not the fan itself).

For more information on these tax credits and overall energy-efficiency upgrades, set up a time for your FREE ESTIMATE!

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