Wonder

Incentives for Renewable and Sustainable Renovations

Delivered January 16, 2020. Contributor: Emma H.

Goals

To find out about government tax incentives and support for home owners making home more sustainable or greener. Incentives can be on a federal level or in NY, CT, RI, MA.

Early Findings

Federal Tax Credit for Residential Solar EnergyThe Solar Investment Tax Credit (ITC) is a 26% tax credit in 2020 for solar systems on a residential home.
The tax credit can be applied to the homeowner's personal income taxes. The credit can be rolled into future years if the homeowner can not claim the full amount in the current year.
The credit will be phased out by 2022. In 2021, the credit will be reduced to 22%.
Residential Renewable Energy Tax CreditFederally, the Residential Renewable Energy Tax Credit is available to homeowners for solar, wind, geothermal and fuel-cell technology improvements.
The credit is equal to 30% of the cost, including installation.
For solar, wind and geothermal equipment there is no credit limit. For fuel cells the cap is $500 for each half-kilowatt of power capacity, or $1,000 for each kilowatt.
New YorkNew York has 123 energy efficiency programs. These include commercial and residential programs and incentives.
ConnecticutConnecticut has 77 energy efficiency programs. These include commercial and residential programs and incentives.
Rhode IslandRhode Island has 57 energy efficiency programs. These include commercial and residential programs and incentives.
MassachusettsMassachusetts has 99 energy efficiency programs. These include commercial and residential programs and incentives.
Early findings suggests that the only available tax incentives at a federal level have been detailed above. A number of incentives expired in 2017.

Proposed next steps:

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