Expiring Tax Credits
Expiring Energy Upgrade Incentives
Federal tax credits are going away this year for a number of approaches to saving money for clean technology. We want to encourage you to start looking now at what can work for you before the benefits from the Federal government end. If you want to upgrade to an electric vehicle, HVAC system, or other energy efficiencies for your home, now is the time.
Want to get a sense of some of your potential savings over the long term? You can use this Savings Calculator from Rewiring America.
| Fed Tax credit | Amount | Expiration Date | More Info |
|---|---|---|---|
| New EV, PHEV, FCV |
Up to $7,500 |
Eligible vehicles must be acquired before September 30, 2025. (NYS will still offer up to $2,000 Clean Drive rebate) |
https://fueleconomy.gov/feg/tax2023.shtml |
| Used EV, PHEV, FCV |
Up to $4,000 |
Eligible vehicles must be acquired before September 30, 2025. | https://fueleconomy.gov/feg/taxused.shtml |
| Air Source heat pump heating/air conditioning |
Up to $2,000 |
Must be installed by December 31, 2025. | https://www.energystar.gov/about/federal-tax-credits/air-source-heat-pumps |
| Biomass Stoves/ Boilers |
Up to $2,000 |
Must be installed by December 31, 2025. | https://www.energystar.gov/about/federal-tax-credits/biomass-stovesboilers |
|
Geothermal |
30% of qualifying costs |
Must be installed by December 31, 2025. | https://www.energystar.gov/about/federal-tax-credits/geothermal-heat-pumps |
| Central Air Conditioner/ Furnace/ Boiler |
Up to $600 |
Must be installed by December 31, 2025. |
https://www.energystar.gov/about/federal-tax-credits/central-air-conditi... https://www.energystar.gov/about/federal-tax-credits/furnaces-natural-ga... https://www.energystar.gov/about/federal-tax-credits/hot-water-boilers-n... |
|
Heat pump hot water heater |
Up to $2,000. | Must be installed by December 31, 2025. | https://www.energystar.gov/about/federal-tax-credits/heat-pump-water-hea... |
| Solar |
30% of qualifying costs |
Must be installed by December 31, 2025. NYS tax credit and NYSERDA rebate will remain. |
https://www.energystar.gov/about/federal-tax-credits/solar-energy-systems |
| Battery storage backup |
30% of qualifying costs |
Must be installed by December 31, 2025. | https://www.energystar.gov/about/federal-tax-credits/battery-storage-tec... |
|
Home energy audit |
Up to $150 |
Must be completed by December 31, 2025. (All NY homeowners of 1-4 family homes can still get a no-cost energy audit) |
https://www.energystar.gov/about/federal-tax-credits/home-energy-audit |
|
Electrical panel and/or electrical components |
Up to $600 | Must be installed by December 31, 2025. | https://www.energystar.gov/about/federal-tax-credits/electric-panel-upgrade |
|
Insulation |
Up to $1,200 | Must be installed by December 31, 2025. | https://www.energystar.gov/about/federal-tax-credits/insulation |
| Windows/ Skylights | Up to $600 | Must be installed by December 31, 2025. | https://www.energystar.gov/about/federal-tax-credits/windows-skylights |
| Exterior Doors | Up to $500 | Must be installed by December 31, 2025. | https://www.energystar.gov/about/federal-tax-credits/exterior-doors |
| Residential Wind Turbines | 30% of qualifying costs | Must be in service by January 1, 2026 | https://www.energystar.gov/about/federal-tax-credits/small-wind-turbines |
|
EV charger |
Up to $1,000 |
Must be in service before June 30, 2026 | https://homes.rewiringamerica.org/federal-incentives/30c-ev-charger-tax-... |
Other helpful links:
Find a registered electric car dealer
DOE video, Upgrade Your Home for Savings
Energy Star's Federal Tax Credits for Energy Efficiency Guide
DOE Energy Savings Hub
https://sustainablewestchester.org/energysmarthomes/
IRS Residential Clean Energy Credit (note, may be outdated)
