Important Update On The 25C Tax Credit For Homeowners
The 25C Energy Efficiency Tax Credit, which allows up to $3,200 annually for energy-efficient upgrades like HVAC systems and water heaters, is under review and could be eliminated by Congress.
Quick Facts:
- Offsets the cost of high-efficiency HVAC, heat pump and water heater upgrades
- Average tax savings in 2023 = $860
- Set to continue through 2032, but its future is uncertain
The Air-Conditioning, Heating and Refrigeration Institute, AHRI, an HVAC industry trade group, is collecting signatures to encourage Congress to keep the credit in place. You can find more information on AHRI’s website.
How To Claim The 25C Tax Credit
Claiming the credit for a new heat pump, HVAC system or water heater is simple:
File IRS Form 5695 with your tax return for 2024.
Keep all receipts, product certifications and documentation for your purchase. If you’re a billyGO customer and had an install completed this year, you can log in to your customer portal or call and ask a billyGO CSR for the necessary documentation.
Be sure to consult a tax professional to see how this credit applies to your situation. It’s a great way to save on energy-efficient upgrades, so take advantage while the tax credit is active.
Considering An Upgrade?
billyGO offers energy-efficient HVAC and plumbing solutions to help homeowners save on energy and maximize available tax credits while they are available.
Schedule a FREE Consultation online anytime or call us at 817.592.9242. We are here to help.
