IR-2024-202: Department of Treasury and IRS release Inflation Reduction Act clean energy statistics

IRS Newswire August 7, 2024
News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Around The Nation e-News Subscriptions The Newsroom Topics Multimedia Center Noticias en Español Radio PSAs Tax Scams The Tax Gap Fact Sheets IRS Tax Tips Armed Forces Latest News Home IRS Resources Contact My Local Office Filing Options Forms & Instructions Frequently Asked Questions News Taxpayer Advocate Where to File IRS Social Media	Issue Number:    IR-2024-202 Inside This Issue Department of Treasury and IRS release Inflation Reduction Act clean energy statistics WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued statistics on the Inflation Reduction Act clean energy tax credits for tax year 2023.  The Inflation Reduction Act, or IRA, extended and expanded tax credits that allow taxpayers to claim residential and energy efficient home energy credits.  Taxpayers have claimed more than $6 billion in credits for residential clean energy investments—which include solar electricity generation, solar water heating and battery storage—and more than $2 billion for energy efficient home improvements — which include heat pumps, efficient air conditioners, insulation, windows and doors — on 2023 tax returns filed and processed through May 23, 2024. Residential and Energy Efficient Home Improvement Credit Credit Number of returns​ Credit value​ Residential Clean Energy Credit 1,246,440 Total: $6.3 billion, Average per return: $5,084      Rooftop solar 752,300 Up to 30% of cost      Batteries 48,840 Up to 30% of cost       Energy Efficient Home Improvement Credit 2,338,430 Total: $2.1 billion, Average per return: $882      Home insulation 669,440 Up to 30% of cost​c      Windows and skylights 694,450 Up to 30% of cost or $600​c      Central air conditioners 488,050 Up to 30% of cost or $600​c      Doors 400,070 Up to 30% of cost, $250 per door, or $500 total​      Heat pumps 267,780 Up to 30% of cost or $2,000      Heat pump water heaters 104,180 Up to 30% of cost or $2,000   Back to Top         Thank you for subscribing to the IRS Newswire, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message.

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