Alaskans who are considering improvements to increase their home’s energy efficiency may have new financial incentives to do so. Recent changes to tax laws will allow homeowners to receive more tax credits for qualified energy efficiency improvements . Ultimately, this can help reduce homeowners’ tax bills each year. There are two tax credit changes that can benefit homeowners (and in some cases, renters may also be able to take advantage): the Energy Efficient Home Improvement Credit and the Residential Clean Energy Property Credit. “Alaskans who are looking to improve efficiency in their homes have an opportunity to save money through reduced energy usage and by taking advantage of these new tax credits,” said Ethan Stoops, Program Information Manager for AHFC’s Research and Rural Development Department. “That includes credits for items that can be of particular benefit to Alaska residents such as heat pumps, rooftop solar panels, and exterior envelope improvements like new energy-efficient doors and windows.” Energy Efficient Home Improvement Credit The Energy Efficient Home Improvement Credit is equal to 30% of the total amount a homeowner spends on qualified energy efficiency improvements, residential energy property expenditures and home energy audits during the year. There are specific home improvement […]
Tax Saving Opportunities for Energy Efficiency Improvements
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