The government rewards you for renewable energy use in your home.
They do this in the form of residential energy credit.
Residential energy credit is aimed to support the installation of roof tiles, solar panels, water heaters, geothermal heat pumps, small wind turbines, among other items that generate energy. Read more about it here.
If property owners have made improvements or installed an ecotechnology that produce energy in your home, you qualify to for the residential energy credit.
If it was installed after December 31,2016 but before January 1,2020 , you’ll be able to deduct 30% of what was invested in it from your taxes.
If it will be installed between December 31, 2019 and before January 1, 2023 it is reduced to 26%.
Joining the project after December 31 this year but before January 1, 2024 will get 22%.
This program is important because it rewards the generation of renewable energy.
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