These Government Credits Can Help You Go Green—Here's How
The Inflation Reduction Act of 2022 comes with a series of environmental credits that are available right now. Here's what you should know.
We all want to do our part to take care of the planet. We watch our water and energy use, stay mindful and informed, curb our carbon, compost, shop secondhand, take public transport—the list goes on and on. But, for many, some of the most impactful means of cutting down on our carbon come with a barrier to entry: they are simply too expensive.
Fortunately, last year's Inflation Reduction Act (aka the largest investment in climate and energy in U.S. history) offers some help, with tax credits designed to help Americans make environmentally sound upgrades on an individual level—the better to step up our own game as we fight for elevated infrastructure, policy, and more.
What Are Green Tax Credits?
Along with supporting the manufacturing of clean energy, the Inflation Reduction Act offers a series of tax credits and rebates to help Americans weatherize their homes, upgrade to more eco-friendly appliances, and even invest in electric vehicles.
Right now, income-qualified households can:
- "Receive a tax credit to cover 30% of the costs of installing rooftop solar.
- Access a tax credit to cover up to 30% of the costs for certain efficiency improvements like insulation, electric heat pumps, and other options determined by an energy audit.
- Receive up to $7,500 for a new and $4,000 for a pre-owned electric vehicle."
Congresswoman Alexandria Ocasio-Cortez took to social to remind followers of the up-for-grabs cash.
How Do I Secure My Tax Credits?
Claiming your desired credits is as simple as clicking around the White House's Clean Energy page. Should you qualify, the allocated credit for previously purchased items and upgrades can be secured by filing the appropriate forms along with your 2022 tax return. Rebates for existing bills are available, too.
Planning to make an environmental investment this year? Do your research first and plan to file for your credit during next year's tax season.
What Else Can We Expect?
Additional credit and refunds are slated to roll out this year; sign up for updates to stay informed and current. In the meantime, use this leg up to help make the eco-minded moves you've been dreaming of—all while pushing your local and federal policymakers to keep doing the work.
10 Actionable Ways You Can Stop Climate Change Right Now
Wondering what you can do to stop climate change right now? Here are 10 easy steps you can take to create change.
6 Impactful Actions You Can Take to Reduce Your Carbon Footprint, According to an Expert
Graham Hill is something of an environmental vanguard. Here are six things he and his company, the Carbonauts, recommend doing immediately to reduce your carbon footprint.
How Solar Energy Works and Its Environmental Benefits
Here's your guide to how solar energy works, how it compares to fossil fuels, and the environmental benefits you should know about.