• How To Cash In On Billions In Green Home Improvement Tax Credits And Rebates
    Home Improvement

    How To Cash In On Billions In Green Home Improvement Tax Credits And Rebates

    The new Inflation Reduction Act aims to arrest climate change by providing incentives for everything from solar panels to heat pumps to new windows to electric stoves. getty On August 16, President Joe Biden signed into law the Inflation Reduction Act, which provides some $370 billion in energy and climate spending and tax breaks over the next decade. It’s the most aggressive federal action to combat climate change in the nation’s history and is designed to help the White House achieve its lofty goals for reducing greenhouse emissions. The result is a grab bag of goodies–for energy producers, electric car and battery makers, other businesses and ordinary households. “There’s something…

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  • How new US tax credits, rebates will work for clean energy home upgrades
    Home Improvement

    How new US tax credits, rebates will work for clean energy home upgrades

    US President Joe Biden signed the big climate bill – the Inflation Reduction Act (IRA) – earlier this week. Electrek spoke with Dan Gayer, JD, CPA, a senior manager in the tax practice at Baker Newman Noyes, about how homeowners can claim tax credits and rebates as they work to achieve energy efficiency and lower their energy bills. Energy Efficient Home Improvement Credit Changes to the former Nonbusiness Energy Property credit, now renamed the Energy Efficient Home Improvement Credit, will take effect on January 1, 2023. The old credit was worth 10% of the costs of installing insulation, windows, doors, roofing, and other energy-saving improvements. The old $500 lifetime limitation…

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