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More details of residential energy credits

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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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