What Qualifies for the Energy Efficiency Tax Credit in 2024?
Did you know you can claim home improvements on your taxes? Most energy efficiency improvements, including insulation and air sealing, are eligible for the Energy Efficient Home Improvement Tax Credit, which saves you 30% on qualifying expenses.
Qualifying Expenses & Credit Amounts
Most energy efficient home improvements are eligible for the tax credit, and limits vary by service.
Insulation & Air Sealing
Insulation and air sealing materials are eligible for a tax credit worth 30% of the project costs (excluding labor) up to $1,200. You can claim the credit on almost any home insulation or air sealing project, including:
Attic insulation and air sealing
Exterior wall insulation and air sealing
Basement insulation and air sealing
Crawl space insulation and air sealing
Insulating and air sealing your home is the most effective way to improve its energy efficiency and reduce energy costs. It’s also one of the most affordable energy efficiency improvements you can make, especially when you claim the energy efficiency tax credit.
Energy Audits
Home energy audits qualify for a 30% energy efficiency tax credit, up to $150.
If you’re not sure how energy efficient your house is or what improvements to make, an energy audit is the place to start. An energy audit is a professional evaluation of your home’s energy efficiency that identifies problem areas and energy-saving opportunities.
At Sustainergy Cooperative, we start every insulation project with a free energy assessment, and we also offer more in-depth paid audits that include infrared imaging and blower door testing.
Heat Pumps
Heat pump HVAC systems and heat pump water heaters are eligible for a 30% tax credit, up to $2,000.
Heat pumps provide all-electric, energy efficient heating and cooling. They are generally considered the most energy efficient way to heat and cool your home, but if your house isn’t insulated and air sealed, much of their efficiency will be lost. If you’re thinking about installing a heat pump in your home, start by installing proper insulation and air sealing your home.
You can claim both the insulation tax credit and the heat pump tax credit in the same year, for a total of $3,200!
Maximize Your Savings with Sustainergy Cooperative
Improving your home’s energy efficiency has a long list of benefits, from saving you money on your energy bills to improving your home’s indoor air quality. With the right improvements, you’ll have a home that’s healthier, more comfortable, and more affordable to heat and cool.
Sustainergy Cooperative is the insulation company homeowners in the Greater Cincinnati area trust. We are a highly experienced whole-home efficiency company that installs high-impact insulation and energy efficiency solutions at the lowest possible cost. We are here to help you navigate the incentives process to ensure you qualify for the maximum savings.
