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Clean Energy Tax Incentives
Clean Energy Tax Incentives
Cleaner Energy Tax Incentives
Inflation Reduction Act
Inflation Reduction Act
The Inflation Reduction Act of 2022 (IRA)1 was signed into law by President Biden in August 2022. Enacted to help mitigate inflation, reduce carbon emissions, and promote cleaner energy usage, the IRA amends credits for energy-efficient home improvements under US Tax Code 25C and residential energy property under Tax Code 25D.2
What Does It Mean for Homeowners?
What does it mean for homeowners?
The Inflation Reduction Act of 2022 provides significant incentive for homeowners to invest in cleaner energy solutions and energy-efficient equipment.
Under the IRA, homeowners investing in cleaner energy alternatives—such as solar or wind power, geothermal heat pumps, fuel cells, and energy storage systems—for their primary residence3 may be eligible for up to a 30% federal tax credit. Also referred to as an Investment Tax Credit, this incentive is expected to remain at its increased rate for residential solar systems through 2032. As of 2023, standalone storage systems may also be eligible for the credit.4
Under the IRA, homeowners investing in cleaner energy alternatives—such as solar or wind power, geothermal heat pumps, fuel cells, and energy storage systems—for their primary residence3 may be eligible for up to a 30% federal tax credit. Also referred to as an Investment Tax Credit, this incentive is expected to remain at its increased rate for residential solar systems through 2032. As of 2023, standalone storage systems may also be eligible for the credit.4
Track Eligible Investments
Track eligible investments
Planning a home improvement project? Contact your tax advisor for the latest guidance on Investment Tax Credits and eligible expenditures for energy-efficient equipment. Learn more about the IRA’s plan for building a cleaner energy economy at whitehouse.gov
Explore Energy Storage
Explore energy storage systems
LG Electronics is a recognized innovator with 65+ years of experience in the consumer electronics industry. As a household name across the globe, we’re committed to designing and manufacturing products with energy-efficiency and environmental sustainability in mind—helping our customers to keep saying, “life’s good.”
LG Electronics offers the LG Home 8 Energy Storage System—a home battery backup power solution designed to store and provide up to 14.4 kWh of usable energy. Whether solar-fed or AC-coupled, the LG Home 8 is a backup power hub engineered to keep your home running smoothly.
LG Electronics offers the LG Home 8 Energy Storage System—a home battery backup power solution designed to store and provide up to 14.4 kWh of usable energy. Whether solar-fed or AC-coupled, the LG Home 8 is a backup power hub engineered to keep your home running smoothly.