Whether you want to upgrade your home for comfort, livability, or function, there’s nothing wrong with applying tax savings strategy when in the planning phase. Beginning this year and through 2032, The Energy Efficient Home Improvement Credit is worth 30% of the total cost of the project or up to $3200 annually.
Energy Star lists the various home improvements eligible for this tax credit on their website which include heat pumps, HVAC units, water pumps, insulation, solar energy systems, even wind turbines and home energy audits. Upgrading windows and doors can really add up. $600 for exterior windows and skylights, $250 for a single exterior door, and $500 for all exterior doors.
In addition to earning tax credits, some home upgrades can result in lower insurance premiums like new roofs, wind mitigation, plumbing, and electrical improvements. Policy Genius has other suggestions as well.
Get the most out of your home while saving money, and energy!