The Inflation Reduction Act introduced a new tax credit for making your home more energy efficient. This new credit replaces an earlier credit that was much less generous.

This video describes the Credit, who can claim it, and how to claim it.

0:00 Introduction
0:23 What is the Credit?
2:05 Who can claim the Credit?
2:24 Claiming the Credit.
5:45 Final thoughts and conclusion

For the video on the Residential Clean Energy Credit, click here:    • The Residential Clean Energy Credit  

Additional Resources and Information:

IRS Form 5695: "Residential Energy Credits": https://www.irs.gov/pub/irs-pdf/f5695...

www.energy.gov and www.energystar.gov are great resources for those who are interested in reducing their energy consumption. There's a lot more information on the credit and any other incentives available for making your home more energy efficient. If you're curious as to whether a certain product is EnergyStar certified, you'll find that information here as well.

Kiplinger.com: "Save More with Tax Credits for Energy-Efficient Home Improvements": https://www.kiplinger.com/taxes/60506...

The Tax Geek on the Site Formerly Known as Twitter: @taxgeekusa

The Tax Geek on Reddit: www.reddit.com/r/askataxgeek

Image/Video Sources:

Storyblocks.com
Pexels.com

The images of "Zack" and "Lydia" were generated by thispersondoesnotexist.com (stability.ai). Any resemblance between these images and any persons, living or dead, is incidental and not intended. No other artificial intelligence was used to research, write, animate, voice, or edit this video

Intro Music: "Bluesy Vibes" - Doug Maxwell - YouTube Creator Music

Outro Music: "Modern Attempt" - Track Tribe under license from YouTube Creator Music

DISCLAIMER: This video is for educational and informational purposes only. It is not intended to render tax advice or financial advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or financial professional.