2019 & 2020 Energy Tax Credits

There are significant “Renewable Energy Tax Credits” for up to 30% of the costs of major energy installations. These credits are unlimited, and include labor on installation for the following:

  1. solar water heaters

  2. solar panels

  3. geothermal heat pumps

  4. small wind turbines

  5. fuel cells

The 30% credits decline through 2021, and are as follows:

  • 2019: 30%

  • 2020: 26%

  • 2021: 22%

The installations must be installed in a home you own and use as a residence (no rentals, but second homes qualify).

These energy tax credits are non-refundable, but can be carried-over to a future tax filing year. More information can be found on the Energy Star Renewable Energy Tax Credits website. Prior to a Congressional budget deal, only the solar credits had remained in place.