Earth Day Climate Action Guide - Home Energy Credit Cap Case Study
Take a look at the case study below to see how to maximize the amount of credits available to you. It can be advantageous to phase the work you need to do. This example compares the same renovation work over 1 year versus 3 years.
NOTE:
Assumed Actual Costs are hypothetical numbers to illustrate how the credit limits work. Work with your contractor to determine you actual cost of work.
Credits do not have a lifetime limit.
See Home Improvement Page for more information on individual credits, eligibility and restrictions.
These tax credits are nonrefundable meaning the credit can't be used to create or increase your tax refund. They reduce the amount you owe in taxes.
*The various pieces of legislation like the Inflation Reduction Act are being rolled out over the coming months and how authorities are implementing these programs is an evolving process so stay tuned as information is updated on this website.