The following estimates are based upon current understanding (1/23).  Changes are expected throughout 2023. 

          To ensure accuracy, triple check by consulting with the seller/contractor, your tax advisor, and government agency! 

 

 

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 HOME: 

 

To find a house upgrade contractor:  hersindex.com/find-a-hers-rater; or locate.bpi.org/?type=1; 

or switchison.cleanenergyconnection.org  (California) 

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                                   HOMES and HEEHRA rebates are expected to become available sometime in 2023!

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                                                       Product  -  usual purchase price range  -  FEDERAL tax credits: 

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Home Energy Audit  -  $100 - $1,000  -  maximum $150 federal tax credit 

 

Whole House Upgrades  -  $20,000 - $75,000  -  you can subtract 30% of the cost from your federal tax obligation,  $1,200 maximum per year  

 

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Insulation / Weatherization -  $1,500 - $7,000  -  30% of product purchase price, $1,200 max fed tax credit per year  

 

Efficient Windows  -  $350 - $2,000 per window (including installation)  -  30% fed tax credit, $600 max  

 

Electrical Panel Upgrade  -  $1,200 - $3,000  -  fed tax credit: 30%, up to $600 max 

 

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HVAC Electric Heat Pump  -  $3,500 - $13,500 (including installation)  -  30%, $2,000 max 

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Electric Heat Pump Hot Water heater -  $2,000 - $3,500  -  30%, $2,000 max 

 

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Home Batteries (energy storage devices)  -  $2,500 - $15,000  -  30% federal tax break (if done with solar pv installation)

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Solar Panels  -  $10k to $35k  -  30% of the rooftop panel project cost will be refunded (no lease options allowed) when you file your federal taxes;  note: there's no maximum amount for this tax benefit

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 To find a rooftop solar contractor see:  energysage.com 

 

 

 

 

 

 

 

 

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 AUTO (EV's):             "The lopsided tax credit...is just one...source of confusion."

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Home Charger  -  $500 - $1,500  -  30% off (of product purchase price) in next year’s tax return;  up to $1,000 max 

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Used EV’s [at least 2 yrs old]  -  if below $25,000  -  [car dealership sales only]  [moderate income buyers only] 

30% tax credit;  $4,000 max  

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New EV’s  -  see car models further below; [wealthy buyers are ineligible]  for customers who lease, tax credits go to the car dealer, who may decrease your payments accordingly

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                                                  Product  -  purchase price range  -  FEDERAL incentives: 
 

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POPULAR EV MODELS -

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Chevrolet Bolt  -  $27k - $35k (range 260 miles)  -  $7,500 fed tax refund  

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Chevy Bolt EUV  -  $29k - $38k (range 245 miles)  -  $7,500 federal tax credit  

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Ford Mustang Mach-E  -  $47k - $62 (range 290)  -  $7,500 if price is under $80k 

 

Ford F-150 Lightning  (pickup)  -  $56k - $91k (range 230 - 320)  -  $7,500 if price is under $80k   

 

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Hyundai Kona Electric  -  $34k - $42k (range 260)  -  $0 tax credit to consumer;  $7,500 to dealer - ONLY IF LEASED

 

Hyundai IONIC 5  -  $41k - $55k (range 250 - 300)  -  $0 tax credit;  $7,500 to dealer - ONLY IF LEASED

 

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Kia Niro EV  -  $39k - $45k (range 255)  -  $0 federal tax credit;  $7,500 to dealer - ONLY IF LEASED

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Kia EV6  -  $48k - $57k (range 275 - 310)  -  $0 to consumer;  $7,500 to dealer - ONLY IF LEASED

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Nissan Leaf  -  $28k - $36k (range 150 - 210)  -  $7,500 federal refund 

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VW ID.4  -  $37k - $50k (range 210 - 275)  -  $7,500 if price is under $80k

 

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Tesla Model 3  -  $44k - $63k (range 355)  - $7,500 if price is under $55k

  

Tesla Model Y  (SUV)  -  $54k - $70k (range 330)  - $7,500 if price is under $80k

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    Before you buy an EV, go here: vpic.nhtsa.dot.gov/decoder, enter the VIN# and the model year.  Also check IRS.gov.

 

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