Expiring Tax Credits
Expiring Energy 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. Unfortunately, the first tax credit to vanish is going to be for electric cars. There are huge advantages to having an EV, not the least of which is never having to gas up again. They also have fewer maintenance needs than internal combustion vehicles: no oil, no filters, no muffler, for instance. There is a $7,500 federal tax credit available now for qualified new vehicles, but you only have until September 30th to qualify.
| Fed Tax credits | Amount | Expiration Date |
|---|---|---|
| New EV |
Up to $7,500 |
Vehicles must be acquired before September 30, 2025. |
| Used EV |
Up to $4,000 |
Vehicles must be acquired before September 30, 2025. |
|
Geothermal |
30% of qualifying costs |
Must be installed by December 31, 2025. |
| Heat pump heating/ air conditioning or Biomass Stoves/Boilers |
Up to $2,000 |
Must be installed by December 31, 2025. |
|
Heat pump hot water heater |
Up to $2,000. | Must be installed by December 31, 2025. |
|
Home energy audit |
Up to $150 | Must be completed by December 31, 2025. |
|
Electrical panel |
Up to $600 | Must be installed by December 31, 2025. |
| Solar |
30% of qualifying costs |
Must be installed by December 31, 2025. |
| Battery storage |
30% of qualifying costs |
Must be installed by December 31, 2025. |
|
Weatherization/ windows/ insulation |
Up to $1,200 | Must be installed by December 31, 2025. |
|
EV charger |
Up to $1,000 |
Must be in service before June 30, 2026 |
