As tax season approaches, there’s still time to claim valuable energy efficiency tax credits on your 2024 return. Even better, when you combine these federal incentives with our cooperative’s rebate programs, you can maximize your savings on energy-efficient home improvements you made last year. Be sure to consult a tax professional to see how these credits affect you.
Federal Tax Credits Still Available
If you made qualifying energy-efficient improvements to your home last year, don’t miss out on significant tax credits when filing your return this April. The Inflation Reduction Act provides tax credits for:
Heat pumps
- ENERGY STAR® certified air conditioners
- Insulation and air sealing materials
- ENERGY STAR certified exterior doors
- ENERGY STAR certified windows
- Electric panel upgrades
These credits range from $50-$2,000, depending on the specifics of the purchase. To see what qualifies, visit energystar.gov/taxcredits.
Stack Your Savings with Co-op Rebates
Remember that our cooperative offers additional rebates on many of these same improvements. When combined with federal tax credits, the savings can be substantial. Our current rebate programs include:
- Smart thermostat rebate
- Load management rebate
- Electric vehicle rebate
- Electric heat pump rebate
Planning Ahead
If you’re considering home improvements this year, now is the perfect time to plan for both tax credits and co-op rebates. Energy-efficient upgrades completed this year will qualify for similar tax credits when you file next year, and our rebate programs run year-round. For any project, we recommend:
Consulting with a tax professional about credit eligibility
Keeping detailed records and receipts of your purchases
Contacting our office to verify current rebate availability
Working with qualified contractors for installations Ready to start saving? Visit our website or call 800.222.3107 to learn more about our rebate programs. For details about federal tax credits, visit energystar.gov/taxcredits