The U.S. government is phasing out clean energy credits, which can help homeowners lower their electricity bills by installing solar panels, heat pumps, electric vehicles, and other eco-friendly technologies.
Under the One Big Beautiful Bill Act, Congress has moved up the deadline for claiming these credits from 2032 to December 31, 2025. Homeowners have several tax credits available until then:
– Electric vehicles: Up to $7,500 for qualifying purchases before September 30, 2025
– Used electric vehicles: Up to $4,000 for qualifying purchases before September 30, 2025
– Heat pumps: Up to $2,000 for installations before December 31, 2025
– Home energy audits: Up to $150 before December 31, 2025
– Rooftop solar and battery storage: 30% of qualifying costs for purchases made before December 31, 2025
However, there are limits on the total amount of credits that can be claimed. For example, the Energy Efficient Home Improvement Credit caps homeowner tax credits on clean energy upgrades at $3,200 per year.
Source: https://www.cbsnews.com/news/tax-credits-clean-energy-biden-trump