
Energy Conservation & Efficiency
316,600 Texans claimed more than $1 billion in tax credits on their 2023 tax returns for installing solar or making other energy efficiency improvements on their homes, according to new data released today by the US Department of the Treasury. Under the Inflation Reduction Act (IRA), Americans can get reimbursed for 30% of the cost of installing solar or other renewable energy technologies on their home through the Residential Clean Energy Tax Credit. 186,500 Texans claimed this credit, saving them $894 million on their taxes. The IRA also offers a Energy Efficient Home Improvement Credit, which provides tax credits of up to $3200 for installing more efficient windows, insulation, heat pumps and other energy saving improvements. 148,520 Texans claimed this tax credit, saving an additional $125 million. Texas followed just California in the number of residents claiming the two tax credits.
Energy Conservation & Efficiency
Energy Conservation & Efficiency