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Double Tax Credit for Energy-Efficient Home Improvements

This bill doubles the tax credit for certain energy-efficient home improvements. This means if you plan to purchase a heat pump, heat pump water heater, biomass stove, or boiler, you could receive a larger tax refund. The change aims to encourage investment in more environmentally friendly heating solutions for homes.
Key points
The maximum tax credit for heat pumps, heat pump water heaters, biomass stoves, and boilers increases from $2,000 to $4,000.
The changes apply to taxable years beginning after December 31, 2024, meaning they will be effective for 2025 tax filings.
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Status:
Introduced
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Additional Information
To amend the Internal Revenue Code of 1986 to double the dollar limitation for the energy efficient home improvement credit with respect to heat pumps, heat pump water heaters, biomass stoves, and boilers.
Print number: HR 616
Sponsor: Rep. Gottheimer, Josh [D-NJ-5]
Process start date: 2025-01-22