Tax Credits & Rebates
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Maximize Your Savings: Tax Credits and Rebates for Home Energy Upgrades
Upgrading your home with new energy-efficient equipment can significantly reduce your utility bills and environmental impact. However, the upfront costs can sometimes be a barrier. Fortunately, there are numerous tax credits and rebate programs available to help offset these expenses. This guide provides comprehensive information on various federal and state incentives designed to make your energy upgrades more affordable.
Explore the options below and take the first step towards a more energy-efficient and cost-effective home today.
Guide to Installing Solar in Missoula, MT
Solar Ease Guide The Solar Ease Guide is designed to provide all the resources you need to make installing solar energy systems in Missoula, MT, straightforward and hassle-free. Our goal is to help you understand and navigate the process of going solar, ensuring a smooth transition to renewable energy. Key Resources and Information:
Understanding Solar Energy Systems
Learn the basics of how solar panels work and the benefits they offer for both the environment and your energy bills.
Local Regulations and Permits
Get detailed information on the local regulations and permits required for installing solar panels in Missoula.
Incentives and Rebates
Discover the various incentives and rebates available to Missoula residents, including state and federal tax credits, to make your solar installation more affordable.
Finding a Qualified Installer
Access a list of certified solar installers in the Missoula area who meet high standards of quality and service.
Financing Options
Explore different financing options to fund your solar project, from loans to leasing programs.
Solar Energy System Maintenance
Learn about the maintenance required to keep your solar energy system operating efficiently and effectively over the years.
For more detailed information and resources, visit the Solar Ease Guide.
Montana Programs
Home Efficiency Rebate Program
The Home Efficiency Rebate Program provides rebates for energy efficiency improvements based on the percentage of energy savings of the whole-house project. Applicants must demonstrate savings by comparing energy consumption before and after the energy conservation project.
Eligible costs may include:
- Electrical panel and/or wiring upgrades.
- Whole-house energy efficiency improvements.
Note: Rebates are not yet available. Learn more here: Montana Energy Programs
Home Electrification and Appliance Rebate Program
The Home Electrification and Appliance Rebate Program provides point-of-sale rebates for stand-alone home electrification and energy efficiency upgrades. This program includes measures such as upgrading to high-efficiency in-home electrical panels.
Eligible measures include:
- High-efficiency in-home electrical panels.
- Stand-alone home electrification upgrades.
- Energy efficiency upgrades.
Note: Rebates are not yet available. Learn more here: Montana Energy Programs
Federal Programs
Energy Savings Hub
Find comprehensive information about all federal tax credits and how to apply at the Energy Savings Hub.
Learn more: Energy Savings Hub
Energy Efficient Home Improvement Credit
The Energy Efficient Home Improvement Credit offers tax credits for various home upgrades that enhance energy efficiency.
Eligible upgrades include:
- Improvements to or replacement of electrical panelboards, sub-panelboards, branch circuits, or feeders.
- Panels with a load capacity of not less than 200 amps.
- Upgrades that comply with the National Electric Code and enable the installation and use of qualified energy efficiency improvements or energy property.
Max credit: $600. Learn more: Electric Panel Upgrade Tax Credit
Solar Energy Systems Tax Credit
This tax credit provides a 30% credit for solar energy systems installed between December 31, 2021, and January 1, 2033.
Eligible systems include:
- Solar panels (Photovoltaic Systems).
- Systems that provide electricity for the residence and meet applicable fire and electrical code requirements.
- Installations for both principal residences and second homes (rentals do not qualify).
Learn more: Solar Energy Systems Tax Credit
Clean Vehicle Tax Credit - New Vehicles (2022 and Older)
The Clean Vehicle Tax Credit offers up to $7,500 for buying a qualified new car or light truck.
Eligibility criteria include:
- Vehicles with an external charging source.
- Vehicles with a gross vehicle weight rating of less than 14,000 pounds.
- Vehicles made by manufacturers that haven't sold more than 200,000 EVs in the U.S.
Learn more: Clean Vehicle Tax Credit 2022 and Older
Clean Vehicle Tax Credit - New Vehicles (2023 and Newer)
For vehicles placed in service in 2023 or later, the Clean Vehicle Tax Credit offers up to $7,500.
Eligibility criteria include:
- Plug-in electric vehicles (EV) or fuel cell vehicles (FCV).
- Modified adjusted gross income (AGI) limits of $300,000 for married couples, $225,000 for heads of households, and $150,000 for all other filers.
- Vehicles with a battery capacity of at least 7 kilowatt hours and a gross vehicle weight rating of less than 14,000 pounds.
Learn more: Clean Vehicle Tax Credit 2023 and Newer
Used Clean Vehicle Credit
Beginning January 1, 2023, this credit provides up to $4,000 for purchasing a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less.
Eligibility criteria include:
- Vehicles with a sale price of $25,000 or less.
- Vehicles with a model year at least 2 years earlier than the purchase year.
- Individuals with AGI limits of $150,000 for married couples, $112,500 for heads of households, and $75,000 for all other filers.
Learn more: Used Clean Vehicle Credit
EV Charging Station Credit
Consumers who purchase and install qualified alternative fuel vehicle refueling property, including EV charging equipment, may receive a tax credit.
Eligibility criteria include:
- 30% of the property's cost or $1,000 for principal residences.
- 6% (or 30% if certain wage and apprenticeship requirements are met) of the property's cost or $100,000 for businesses and qualifying tax-exempt organizations.
Learn more: Refueling Infrastructure Tax Credit | IRS Form 8911
