Summary
Federal tax credits for installing home solar panels, buying electric vehicles, and other energy-efficient technologies will end on December 31 due to a new law. People need to act quickly to benefit from these incentives, signing contracts and completing installations before the deadline.
Key Facts
- The federal tax credits for home solar panels and other energy-efficient technologies end on December 31.
- Homeowners could get up to 30% off the cost of installing solar panels and related equipment through these incentives.
- An additional federal credit offered up to $2,000 off for buying energy-efficient heat pumps and other appliances.
- There is also a credit of up to $1,200 for home improvements like new insulation, doors, and windows.
- To qualify for these credits, the equipment must be installed and in use, not just purchased, before the end of the year.
- The incentives have motivated many people to quickly finalize their purchases and installations.
- Dealers are actively selling electric vehicles that qualify for the current tax credits before they expire.
- Acting soon is important as installation projects could take several months to complete.
