Residential Clean Energy Credit - RENAMED & REVISED
The Residential Energy Efficient Property Credit is renamed the Residential Clean Energy Credit, with the applicable percentages being modified as follows:
1) In the case of property placed in service after December 31, 2023 and before January 1, 2033, 30% Credit
Residential energy efficient property credit equals the sum of the applicable percentages of:
1) Qualified solar electric property expenditures
2) Qualified solar water heating property expenditures
3) Qualified fuel cell property expenditures
4) Qualified small wind energy property expenditures
5) Qualifed geothermal heat pump property expenditures, and
6) Qualified biomass fuel property expenditures that are made by the taxpayer during the year.