If you recently made or plan to make energy efficiency improvements to your home, you may be eligible for federal tax credits. The Inflation Reduction Act (IRA) of 2022 empowers homeowners to save money on energy efficiency improvements and upgrades.

New data from the Internal Revenue Service shows that more than 3.4 million American families have already claimed more than $8 billion in residential clean energy and home energy efficiency credits against their 2023 federal income taxes, the first year the IRA’s full adjustments to the value and scope of these tax credits were in effect.

Homeowners can save up to $3,000 annually to lower the cost of efficiency upgrades by up to 30%. A few upgrades covered through the IRA include new exterior doors, windows, insulation, heating/cooling equipment and other major appliances.

If you completed an upgrade this year or you are considering one, visit www.energystar.gov/federal-tax-credits to learn if you qualify for a tax credit.