Making improvements to your home to boost energy efficiency is a great investment. Over time, you can recover the money spent and more, as your utility bills decrease. However, there are also other benefits you can reap, not the least of which are tax incentives. Depending on what improvements you’ve made and when, you may qualify to get a significant portion of the cost back on your taxes. Here are some of the rebates you can take advantage of:
Solar energy is both clean and renewable, making it very appealing to a lot of homeowners. If you installed either solar panels or a solar water heater in your home within the last few years, you’re eligible for a 30% tax credit on the cost of both purchase and installation.
If you haven’t switched to solar yet, it’s not too late. The tax credit is reduced by a few percentage points after the end of the year, but you can still claim it if you install a solar system before the end of 2021.
State Tax Credits
Arizona has several energy-efficiency credits that you can claim on your state taxes, including solar water heating and tax breaks for multifamily homes that employ energy-reducing measures such as heat pumps, duct sealing, and more.
To learn about other benefits of energy efficiency in your home, contact us at Hansberger Refrigeration and Electric Company. We serve all of Yuma’s home-comfort needs.