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IRA Tax Credits

Inflation Reduction Act (IRA) Federal tax credits and rebates are available for energy efficiency upgrades to your main home. If you’ve upgraded appliances or made home weatherization improvements to your primary residence since 2023, you may be eligible for tax credits or rebates for energy-efficient improvements.

Here’s a sampling of what’s covered: upgraded exterior windows and doors, insulation high-efficiency (Energy Star-rated) heat pumps, water heaters, heating and cooling equipment, appliances, electric panel upgrade, and switching to an electric vehicle or adding a home charger.

 

 

hvac

bills

 

Insulation

cashback

 

 

 

 

 

More Money, More Comfort


So, how does it work? Federal tax credits of up to $3,200 per year can be claimed with your federal income taxes for the year when the upgrades are made. Just complete IRS Form 5695, follow IRS instructions, and include the form when filing your tax return. You’ll need to know the total cost of the upgrades and include relevant receipts. Given how annual total limits are structured, consider spreading your home energy efficiency improvements over a few years. Planning your upgrades can help maximize the annual credit amounts you can claim. As with any tax matter, consulting with a tax professional is advisable.

Energy-efficient upgrades typically reduce consumption, lower utility bills over time and lessen the environmental impact. Not to mention, you can say adios to drafts and cold spots with energy-efficient windows and doors, and hello to improved indoor air quality with cleaner heating and cooling systems. So, what are you waiting for?

 

 

Check out the DOE’s Energy Savings Hub on federal rebates at: www.energystar.gov

 


Additional Resources:


IRS's resource page -
www.irs.gov


Energy Star resource page -
https://www.energystar.gov/about/federal-tax-credits

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MJM ELECTRIC COOPERATIVE

  • 18300 Shipman Rd - Carlinville, IL
  • (217)-707-6156
  • Non-Discrimination Policy

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©2025 MJM Electric Cooperative. All Rights Reserved.

  • About Us
    • Contact Us
    • What is a Cooperative?
    • How We're Governed
    • Where We Serve
    • Careers
    • About Touchstone Energy
  • Billing
    • Pay Your Bill
    • Billing and Payment Options
    • 2025 Rates
    • Rate Calculator
    • Understanding Your Bill
    • Understanding Demand
    • SmartHub Help
  • Outage Center
  • News & Events
    • Newsletters
    • Regular Board Meeting Minutes
    • Annual Meeting
  • Community
    • Operation Round Up
    • Scholarships
    • Youth Day & Tour
    • Creating Entrepreneurial Opportunities (CEO)
  • Find Ways to Save
    • Energy Saving Tips
    • PowerMoves Rebates
    • Renewable Energy Interconnection
    • IRA Tax Credits
    • New Home Construction Tips
    • Co-op Connections
  • Member Information
    • Capital Credits
    • Member Information Packet
    • Tree Trimming
    • Outdoor Lighting
    • Avoiding Energy Bill Scams
    • Generator Program
    • EV Info
  • Service Requirements