Refundable Tax Credit for Home Green Energy: New Rules and Installers
This act changes the rules for tax credits related to renewable energy installations in homes, such as solar panels. Starting in 2023, the tax credit will be refundable, meaning you can receive money even if you don't owe enough taxes to offset the credit. It's crucial that installations are performed by certified installers who will need to register their services.
Key points
The tax credit for residential energy efficient property (e.g., solar panels) will become refundable starting in 2023, meaning you can receive the money even if you don't have enough tax liability to claim the full credit.
To qualify for the credit, installations must be performed by specific, registered installers who will provide you with a unique identification number for your tax return.
New rules are introduced to prevent fraud and duplicate claims related to these tax credits.
Expired
Additional Information
Print number: 117_S_3140
Sponsor: Sen. Ossoff, Jon [D-GA]
Process start date: 2021-11-02