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New York Life Assistant 2025-05-07

Energy-Efficient Home Improvement Credit

Energy-Efficient Home Improvement Credit

If you make qualifying energy-efficient improvements to your home after January 1, 2023, you may be eligible for a tax credit of up to $3,200. You can claim the credit for improvements made through 2032.

For improvements installed in 2022 or earlier: Use the prior year version of Form 5695.

Beginning January 1, 2023, the credit equals 30% of certain qualified expenses, including:

There are annual limits on the credit amount and the amount of credit allowed for certain types of qualified expenses. The credit applies to eligible property placed in service between January 1, 2023, and January 1, 2033.

The maximum credit you can claim each year is:

There is no lifetime limit for this credit. You can claim the maximum annual credit amount each year through 2033 for qualifying improvements or installations. However, starting in 2025, for each eligible property placed in service, no credit is allowed unless the property is produced by a qualified manufacturer and the taxpayer reports the property's identification number on their tax return.

The credit is nonrefundable, so you cannot get back more than you owe in taxes. You cannot carry over any excess credit to future tax years.

Who is eligible for the credit

You can claim the Energy Efficient Home Improvement Credit for improvements made to your main home. Your main home is generally where you live most of the time.

For the Energy Efficient Home Improvement Credit, the home must be:

In most cases, the home must be your main home (where you live most of the year). If you are a landlord or other property owner who does not live in the home, you cannot claim the credit.

Home used for business

If you use an item of property solely for business purposes, you cannot claim the credit.

If you use your home partly for business, the credit for qualified clean energy expenses is:

Frequently Asked Questions about Energy Efficient Home Improvements and Residential Clean Energy Property Credits

Eligible Expenses and Credit Amounts

To be eligible, home improvements must meet energy efficiency standards. They must be new systems and materials, not used. Below are specific credit limits for certain improvements.

Building Envelope Components

To be eligible, building envelope components must have an expected lifespan of at least 5 years. Eligible components include new:

Labor costs for installing building envelope components are not eligible for this credit.

Home Energy Audits

A tax credit of up to $150 is available for a home energy audit of your main home.

To qualify, the home energy audit must:

Beginning in 2024, the following additional requirements must be met:

We recommend that home energy auditors who do not yet have an EIN apply for and obtain one. Apply for an EIN online.

For more information, see Notice 2023-59.

Residential Energy Property

Residential energy property that meets or exceeds the highest efficiency tier (excluding any advanced tiers) of the Consortium for Energy Efficiency (CEE) standards qualifies for a credit of up to $600 per item when installed from the beginning of the year. Eligible costs may include labor for installation.

Qualifying equipment includes new:

Oil furnaces or hot water boilers may also qualify through other efficiency standards.

Electrical components necessary to support residential energy property, including distribution panels, subpanels, branch circuits, and feeders, also qualify for the credit if they meet the National Electrical Code and have a capacity of 200 amps or higher. The tax credit limit is $600 per item.

Energy Property – Heat Pumps and Biomass Stoves and Boilers

Heat pumps and biomass stoves and boilers that meet or exceed the highest efficiency tier (excluding any advanced tiers) of the Consortium for Energy Efficiency (CEE) standards, with a thermal efficiency rating of at least 75% when installed from the beginning of the year, qualify for a credit of up to $2,000 annually. Eligible costs may include labor for installation.

Qualifying equipment includes new:

Subsidies, Rebates, and Incentives

When calculating your credit, you may need to subtract subsidies, rebates, or other financial incentives from your eligible equipment costs, as they are considered adjustments to the purchase price.

Subsidies provided by utility companies for purchasing or installing clean energy equipment will be deducted from eligible expenses. This applies whether the subsidy is paid directly to you or on your behalf to the contractor. However, payments from utility companies for clean energy you sell back to the grid, such as net metering credits, do not affect your eligible expenses.

Rebates will be deducted from eligible expenses if all of the following apply:

State energy efficiency incentives are generally not deducted from eligible expenses unless they qualify as a rebate or purchase price adjustment under federal income tax regulations. Many states label energy efficiency incentives as rebates even if they do not meet that definition. For federal income tax purposes, these incentives may be included in your gross income. Refer to Notice 2013-70, IRB 2013-47 (English).

IRS Announcement 2024-19 (English) provides taxpayers with specific information regarding tax payments related to the U.S. Department of Energy's Home Energy Rebate Programs. Visit the Office of State and Community Energy Programs (English) for more information on home energy rebates.

How to Claim the Energy Efficient Home Improvement Credit

Submit Form 5695, Residential Energy Credits (English), Part II, along with your tax return to claim the credit. You must claim the credit for the tax year in which the equipment was installed; merely purchasing the equipment is not sufficient.

For additional instructions on how to claim the credit, follow our step-by-step guide:

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