Ahead of Tax Day: Clean Energy Tax Credits in North Carolina
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Thanks to President Biden’s clean energy plan, North Carolinians have the opportunity to save money by leveraging historic tax credits and rebates. The President’s plan is the most significant investment in climate and clean energy in this history of our country. It makes it cheaper for Americans to replace fossil-fuel burning cars and appliances with cleaner versions.
TAX CREDITS
The federal tax credits, which allow eligible consumers to recoup some of their expenses when upgrading the energy efficiency of their homes, took effect last year. Taxpayers switching to electric appliances, purchasing electric vehicles, installing rooftop solar panels and more can qualify for these incentives right now. Americans can consult the Rewiring America savings calculator to find out what incentives they’re eligible for. Below is a breakdown of the clean energy plan’s tax credits:
- Get a home energy audit
- Make energy-saving renovations and buy efficient appliances
- Install a heat pump
- Install solar panels or other renewable energy options
- Buy an electric vehicle
· Buy a new electric car, pickup truck or SUV
· Buy a used electric car, pickup truck or SUV
· Install an electric vehicle charger at home if you live in a rural or low-income area
BENEFITS
- Tax credits are lowering the tax burden for families with high electricity costs while helping them upgrade to energy-efficient appliances that will lower their energy bills.
- These new tax credits will allow households in North Carolina to install rooftop solar panels, stove tops, other appliances, and home improvements to help lower their utility bills. The clean energy plan is projected to save the average American taxpayer $1,000 a year in energy costs by 2030.
- President Biden’s clean energy plan is the largest investment in climate ever passed and has already created 9,886 jobs in North Carolina (56% of new jobs are located in rural communities) while also lowering costs for families and cleaning up our air and water.
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