North Carolinians saved more than $170 million on their taxes thanks to home solar and energy efficiency projects

In 2023, 85,350 North Carolinians claimed more than 170 million in tax credits for installing solar or making other energy efficiency improvements on their homes, according to new data.

Americans can get reimbursed for up to 30% of the cost of installing solar or other renewable energy technologies on their home through the Residential Clean Energy Tax Credit, a part of the Inflation Reduction Act (IRA) which was passed two years ago in August 2022. This past year alone, 26,470 North Carolina residents saved just over $110 million on their taxes through claiming this credit.

The IRA also offers an Energy Efficient Home Improvement Credit, which provides tax credits up to $3,200 for installing more efficient insulation, heat pumps, windows and other energy saving improvements. 62,490 North Carolinians saved an additional nearly $63,000 in 2023 through the Energy Efficient Home Improvement Credit.

And, over 3,500 North Carolina residents claimed both the Clean Energy Tax Credit and the Energy Efficient Home Improvement Credit, saving them even more.

Even more IRA benefits will be available for North Carolinians in early 2025. Future benefits will award tax credits for appliances, electrical panels and electrical wiring, and electric heat pump water heaters. 

Interested in taking advantage of these tax credits yourself? Check out our Clean Energy Home Toolkit to find out how!