If you are building a new home, remodeling, considering replacing your heating or cooling system, or buying an electric car you may want to look into the Inflation Reduction Act.
Starting in 2023, homeowners and business owners can take advantage or various rebates and tax credits to make energy-efficiency improvements to their homes. Some programs are income-based while others are tax credits.
Different incentives and various qualification requirements will kick in according to different timelines. ALP will be working to stay informed of State of Minnesota and federal government programs.
We hope to provide you with details as they become available, but in the meantime, we have added several resources to our website. Please see below:
Check out these websites to learn more about the Inflation Reduction Act
- Inflation Reduction Act of 2022 – Internal Revenue Service (irs.gov): https://www.irs.gov/inflation-reduction-act-of-2022
- Department of Energy Tax Credit Guidance: https://www.energy.gov/policy/articles/making-our-homes-more-efficient-clean-energy-tax-credits-consumers
- CERTS- The Inflation Reduction Act: What you need to know: https://www.cleanenergyresourceteams.org/inflation-reduction-act-what-you-need-know
Your tax accountant may also be a good resource on the Inflation Reduction Act.