For several years now, the Federal Government has been offering a tax credit for installing solar panels or other forms of clean energy generation. The Inflation Reduction Act extended the Credit for 10 years, and made some other minor changes to it.

This video describes the credit, who can qualify for it, and how to claim it.

0:00 Introduction
0:30 What is the Credit, and who can claim it?
1:57 Claiming the Credit
4:03 Conclusion

To learn more about the Residential Energy Efficiency Home Improvement Credit, which offers credits for insulation, windows, doors, high-efficiency HVAC systems, and heat pumps, click here:
   • The Energy Efficient Home Improvement...  

Additional Resources and Information:

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

www.energy.gov is a great resource for those who are interested in reducing their energy consumption. Here, you'll also find additional state, local, and utility company incentives for installing clean energy generation.

Forbes.com: "Solar Tax Credit By State in 2023: The Ultimate Federal Solar Energy Tax Credit Guide": https://www.forbes.com/home-improveme...

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
Wikimedia Commons
Emma Ambrogi

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.