The Top Benefits of the Energy-Efficient Home Improvement Tax Credit

We are all looking for ways to pinch pennies and save more money right now—and with good reason! While you are busy clipping coupons or store-hopping to find the best deals, it can be easy to overlook larger home projects like upgrades or energy efficiency.

But what if we told you that you can have it all while also saving money? That’s exactly what the Energy-Efficient Home Improvement Tax Credit will do for you. Read on as we explain more about this awesome money-saving opportunity.

What Is Included in the Tax Credit? The Energy-Efficient Home Improvement Tax Credit is a benefit under the Inflation Reduction Act that

was passed in 2022. This act was passed to help homeowners across the country make energy-efficient upgrades and improvements on their homes by saving them money along the way.

The tax credit allows you to claim up to 30% of the cost of your project on your 2024 taxes. While the annual cap has a limit of $1,200, that is a serious money-saving opportunity. This tax credit is also supposed to be available for a few years so you can use it year after year to save money while creating the home of your dreams.

Some projects that qualify include:

· Solar panels

· New insulation

· New appliances

· Upgraded heating and cooling equipment

· Air sealing services

While this is a tax credit and you won’t be able to reap the benefits until next year, the savings will pay off in a big way later and immediately in the form of lower energy bills and increased comfort.

What Project Is Right for Me?

It can be hard to know where to start when it comes to energy efficiency. Our suggestion is to get a professional opinion by having an energy audit done or having us come out to your home to take a look. Knowing where your home is leaking the most energy can help you make the most of yourmoney by choosing your projects wisely.

If you decide that air sealing, new insulation or a solar attic fan is right for you, we can handle your entire installation from start to finish. We want you to save as much money as possible on your project, so we can even walk you through the tax credit process so you know what to do when tax season 2024 comes around. New insulation is a great energy-efficient upgrade. Contact us at Koala Insulation of Northwest Pennsylvania to learn more.