Take Advantage of Tax Credits for Energy-Efficiency Improvements

Making energy-efficiency improvements around your home is one of the best ways to reduce your monthly electricity bill. If you’re looking for even more ways to save, some of these improvements may qualify for tax credits to help you get more “bang for your buck.”

The IRS offers federal tax credits for certain qualified efficiency upgrades and purchases, which helps you deduct from the total amount of taxes you pay in a given year. Before you start planning your next home update, take a look at the list below to see if one of your projects may qualify for a federal tax credit. Be sure to consult your tax professional to determine how this could impact you.

Also, be sure to let us know of any large home improvement plans before they begin as it may affect your service. Turn the page to learn more.

Federal Tax Credits* for the 2023-2032 Tax Years:

Heating and cooling equipment and upgrades:

  • Biomass stove/boiler
  • SEER2 16 and above energy-efficient air conditioners, heating equipment and water heating equipment
  • Certain heat pumps
  • Heat pump water heaters

Clean energy equipment:

  • Geothermal heat pumps
  • Solar electricity and water heating products
  • Battery storage
  • Fuel cells
  • Small wind turbines

Other energy efficiency equipment and upgrades:

  • Electric panel/circuit upgrades
  • EV charging stations
  • Exterior doors
  • Insulation
  • Windows, including skylights

These projects may be eligible for tax credits based on the year they are placed in service. Some restrictions and annual caps may apply. Keep in mind that tax credit amounts may decrease from year to year.

*Piedmont Electric does not specialize in taxes; please talk to your tax professional about available credits and tax deductions when planning your energy-efficiency upgrades. You can learn more about these federal tax credits by visiting energy.gov.

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