Investments in your home should do more than just look great. Choose upgrades that improve your home's energy efficiency and you could qualify for some substantial tax credits.
Homeowners in cold weather climates like Pittsburgh can choose new windows, doors, siding, roofing, and solar that provide reduced energy bills. Let's dive deeper into the ways in which your home improvement project can benefit your savings:
- Inflation Reduction Act
- Homeowner Tax Credit
- How to Qualify
What Is the Inflation Reduction Act?
Passed in 2022, the Inflation Reduction Act is a fairly new program that many Americans aren't yet aware of. By reducing the federal government budget deficit the government aims to reduce inflation for everyday citizens.
The act has another part aimed at tackling the climate crisis. Through incentivizing energy-efficient home upgrades, the government plans to cut emissions in half by 2030 and net zero by 2050. This substantial act will make energy-efficient home improvement projects the smarter choice for homeowners in Pennsylvania.
Take Advantage of the Homeowner Tax Credit
So how does the Inflation Reduction Act aid homeowners? By choosing products that are Energy Star-rated, you'll enjoy the tax credit that an economy brand window wouldn't provide. The act provides the following advantages and more:
- Tax Credit: Enjoy a 30% tax credit toward installing efficient exterior windows, skylights, exterior doors, water heaters, and other items.
- Roll Over: If you're not planning to install new windows or doors this year, rest assured that the credit will roll over into the next year until 2032.
Requirements for Qualification
Now that we have gone over the Inflation Reduction Act and the homeowner tax credit, let's go over the requirements to qualify. Most importantly you must apply early as there's a pre-determined $8.8 billion budget.
Once that tax credit runs out, it is unknown whether there will be another act. Home improvements in Pennsylvania must meet or exceed Energy Star requirements and will qualify for the following:
- Exterior window and skylight installation in the year 2023 will yield a 30% rebate with up to a $600 maximum rebate.
- Exterior door installations in the year 2023 will yield a 30% rebate with a $250 per door ($500 total for two doors) maximum rebate.
Reach Out to Legacy Remodeling Today
Legacy Remodeling is your premier home improvement company in Pittsburgh for expert energy-efficient window installations. We work with you every step of the way to map out your Energy Star upgrades and provide guidance on the tax credit.
We also specialize in door installations, cabinet refacing, siding installations, and bathroom remodeling. Contact us today for a free estimate on your energy-efficient upgrades in Pittsburgh!
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