IR-2024-202: Department of Treasury and IRS release Inflation Reduction Act clean energy statistics

IRS Newswire

August 7, 2024

Issue Number: IR-2024-202

Inside This Issue

Department of Treasury and IRS release Inflation Reduction Act clean energy statistics

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued statistics on the Inflation Reduction Act clean energy tax credits for tax year 2023.

The Inflation Reduction Act, or IRA, extended and expanded tax credits that allow taxpayers to claim residential and energy efficient home energy credits.

Taxpayers have claimed more than $6 billion in credits for residential clean energy investments—which include solar electricity generation, solar water heating and battery storage—and more than $2 billion for energy efficient home improvements — which include heat pumps, efficient air conditioners, insulation, windows and doors — on 2023 tax returns filed and processed through May 23, 2024.

Residential and Energy Efficient Home Improvement Credit

Credit	Number of returns	Credit value
*Residential Clean Energy Credit*	1,246,440	Total: $6.3 billion, Average per return: $5,084
Rooftop solar	752,300	Up to 30% of cost
Batteries	48,840	Up to 30% of cost

*Energy Efficient Home Improvement Credit*	2,338,430	Total: $2.1 billion, Average per return: $882
Home insulation	669,440	Up to 30% of cost^c
Windows and skylights	694,450	Up to 30% of cost or $600^c
Central air conditioners	488,050	Up to 30% of cost or $600^c
Doors	400,070	Up to 30% of cost, $250 per door, or $500 total
Heat pumps	267,780	Up to 30% of cost or $2,000
Heat pump water heaters	104,180	Up to 30% of cost or $2,000

Thank you for subscribing to the IRS Newswire, an IRS e-mail service.

If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe.

This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message.

Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need your email address to log in. If you have questions or problems with the subscription service, visit subscriberhelp.govdelivery.com.

This service is provided to you at no charge by the Internal Revenue Service (IRS).

This email was sent to [email protected] by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington, D.C. 20535

News Essentials

The Newsroom Topics

IRS Resources

Issue Number: IR-2024-202

Inside This Issue