Residential Clean Energy Credit (Previously Residential Energy Efficient Property Credit)
Key Update:
- Renamed: Residential Energy Efficient Property Credit → Residential Clean Energy Credit.
- Applicable Credit Percentage:
- 30% for property placed in service after December 31, 2023 and before January 1, 2033.
Eligible Property for Credit:
Taxpayers can claim 30% of qualified expenditures for:
- Solar electric systems
- Solar water heating systems
- Fuel cell systems
- Small wind energy systems
- Geothermal heat pump systems
- Biomass fuel property systems
This credit reduces tax liability for homeowners investing in renewable energy technologies.
For more details, visit www.irs.gov.