Home and Residential Energy Credits and Energy Credits for Businesses

In collaboration with the IRS, please join the Nevada SBA District Office for a presentation on the Home and Residential Energy Credits and Energy Credits for Businesses. The IRS will share valuable information on the various tax incentives available for renters and homeowners, examples of energy-efficient upgrades to your home, and information on the eligibility criteria to claim these credits.   Small business owners in the clean energy sector have unique opportunities to help residential customers take advantage of upgrades leading to tax credits. There are two key tax credits that your homeowner customers should be aware of: the energy-efficient home improvement credit and the residential clean energy credit. Both credits are claimed through the standard tax filing process. In addition to federal tax credits, home energy-related activities may qualify for state-run energy rebates.

The Inflation Reduction Act, signed into law by President Biden in August 2022, expanded the amounts and types of expenses that qualify for home energy tax credits that homeowners can claim. These tax credits are part of the law’s historic investment in tackling climate change by reducing energy costs in American homes. They position America’s Main Street small businesses—door and window installers, plumbers, electricians, general contractors, Heating and Air businesses—at the forefront of this investment and present a generational opportunity for small business growth.