Have you been thinking of getting an EV, rooftop solar, or a super efficient heat pump? Federal legislation signed into law on July 4th has set early expiration dates for the federal tax credits provided by the Inflation Reduction Act. But there is still time to reach out to contractors, get estimates, and get on their schedules to have equipment installed before the end of the year.
The Energy-Efficient Home Improvement Credit (25C) can get you up to $2,000 off your federal taxes for a qualifying heat pump or heat pump water heater, and separately, up to $1,200 on other energy-efficient upgrades, including insulation and air-sealing. You can also get a tax credit for an energy audit! Now expires: Dec. 31, 2025
The Residential Clean Energy Credit (25D) takes 30% of the cost of a clean energy installation off your federal tax bill, including solar photovoltaic panels, solar water heaters, home battery storage, geothermal heat pumps, and even home wind turbines. Now expires: Dec. 31, 2025
The New Clean Vehicle Credit (30D) can get you $7,500 off your federal tax bill for a brand-new, qualifying EV model, and The Used Clean Vehicle Credit (25E) can take off to $4,000 off your federal tax bill for qualifying pre-owned EVs. You can get the discount right at the dealership. Now expires: Sept. 30, 2025
The Alternative Fuel Vehicle Refueling Property Credit (30C) delivers up to $1,000 off your federal tax bill to install qualified EV charging equipment if you live in an eligible area. Now expires: June 30, 2026
Good news: the much-anticipated Home Energy Rebates program that provides up-front discounts to low- and moderate- income families was not impacted by recent legislation. Oregon’s program is still slated for launch in early 2026.
Thanks to Canary Media for this helpful information! Read the full article here
