What Are Some of the Energy Incentives?
The law raises the residential energy property tax credit from 10 percent to 30 percent. That’s a nice write-off for taxpayers who are already planning on investing in more efficient energy equipment, but it may not push people to make more purchases than they would have otherwise. Dollar caps are removed for the residential energy efficient property credit for solar hot water and wind energy property and heat pumps. Plug-in electric vehicles now qualify for a $2,500 tax credit that will phase out after the manufacturers sells 200,000 vehicles.
