Robert W. Lazaro, Jr.’s Post

🏡☀️ True or False? Ohioans can save with the federal tax credit on solar installations. 💡 Answer: TRUE! The federal solar tax credit (known as the ITC) allows homeowners in Ohio—and across the U.S.—to deduct 30% of the cost of installing solar panels from their federal taxes. Plus, your city or county may offer even more opportunities to save with tax abatements, loan programs and more. Why wait? With solar, you can save on energy costs and get a hefty tax break. Read more about the Federal Tax Credit on TGE Solar's website: https://bit.ly/4fUbAHt #solar #solarohio #taxcredit #smallbusinesses #ohiosmallbusiness

Treasury released data on IRA’s expanded energy efficiency and clean energy tax credits earlier this week for the 2023 tax year. - 2.34 million U.S. households garnered nearly $2.1 billion in residential energy efficiency tax credits last year, an average of $882 per household. - 1.25 million households received $6.34 billion, or an average of $5,084 each, in tax credits for clean energy projects, such as rooftop solar and battery storage. - The number of families benefiting from energy efficiency and clean energy tax credits increased almost one-third compared with the 2021 tax year. - Treasury expects the claims for 2023 will grow as more income tax returns are filed and processed, #taxcredits #energyefficiency #cleanenergy #solar #batterystorage #energytransition #inflationreductionact #renewableenergy

People are asking, “Are solar batteries worth it?” while forgetting that the price of home solar energy storage systems can be reduced with government-backed programs and incentives such as SGIP.  The Inflation Reduction Act (IRA), was officially enacted in the US in August 2022. The IRA offers a 30% federal tax credit for certain home batteries, letting homeowners offset their federal income tax obligations within the year they purchase their system.  As an example of the above, if you got a solar battery unit priced at $10,000, you could possibly claim a tax deduction of $3,000. #EPCube #CanadianSolar #SolarPower #GreenEnergy #Sustainability #solarbatteries

"About 1.25 million households received $6.34 billion, or an average of $5,084 each, in #taxcredits for #cleanenergy projects, such as rooftop #solar and #batterystorage, according to the #Treasury. The information marks the first glimpse at how the #InflationReductionAct is affecting #energyefficiency and clean energy tax credit usage since the credits were expanded under the 2022 law, Treasury said. The number of families benefiting from energy efficiency and clean energy tax credits increased almost one-third compared with the 2021 tax year, before the IRA took effect, and the total value of the credits claimed increased by almost two-thirds, the department said..." https://lnkd.in/gZjKWt3x

According to U.S. Department of the Treasury numbers, in 2023 over 316,000 Texans claimed a total of $1 billion + in tax credits for installing solar products or other #energyefficiency upgrades to their homes. Check out more data from Environment Texas here: https://ow.ly/JUX850SYtkg #txenergy

How Installing Solar Can Save You Money—From Taxes to Energy Bills

How Installing Solar Can Save You Money—From Taxes to Energy Bills

How Installing Solar Can Save You Money—From Taxes to Energy Bills

Just one of many Benefits of Home Ownership!!! Federal Tax Credits for Energy Efficiency The Inflation Reduction Act of 2022 empowers Americans to make homes and buildings more energy-efficient by providing federal tax credits and deductions that will help reduce energy costs and demand, as we transition to cleaner energy sources.

Commercial Solar and Energy Efficiency Upgrades Made Easy See how the IRA Tax Credits can benefit your business