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More details of residential energy credits


Last week, we promised more details about eligible items for the two personal residence energy credits for individuals reported on Form 5695 (hope you get a charge out of our effort!)

Residential Clean Energy Property Credit. The following expenditures are eligible for the RCEPC — solar panels, solar water heaters, fuel cells, small wind energy turbines and battery storage technology (which is a new category for 2022).

Last week:Inflation Reduction Act changes credits, expenditures and limitations to energy credits

Two frequently asked questions related to this credit include:

1. Can a taxpayer include labor costs when determining the credit?

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