CNC Concrete Homes LLC Fargo ND 58102
Important Information for Consumers
Did you know you could save money on your utility bills and receive a tax credit
for certain clean energy installations?
The amount of the credit is 30% of the
qualified expenses (including certain labor
and installation) paid by the taxpayer. Do
not include interest paid including loan
origination fees. The credit amount is limited
to 26% for 2033 and 22% for 2034
Note: The credit amount is uncapped,
except for fuel cell property, which is limited
to $500 for each half kilowatt of capacity, or
a maximum of$1,667 for each half kilowatt
of capacity when more than one person
lives in a home.
The Residential Clean Energy credit can
apply to certain clean energy installations,
including:
• Solar panels
• Battery storage technology (not less
than 3 kwh)
• Solar water heaters (see standards
below)
• Geothermal heat pumps (Energy Star)
• Small wind energy projects
• Fuel cell property
In general, roofing materials and costs are
not covered. Solar roofing tiles/shingles that
function as both roofing and solar electric
collectors are covered.
Clean energy installations must be owned
(not rented or leased) by the taxpayer who
claims the tax credit. The eligible property
may be installed at any residence the
taxpayer lives in.
The residence need not be the taxpayer’s
primary home except for fuel cell
expenditures. Landlords who are not
residents of the dwelling unit may not claim
this credit.
The Residential Clean Energy Credit can be
applied to new construction.
If the residence is used in part for business
purposes, the maximum available credit is
reduced if the business use of the home is
20% or more.
To claim the credit, taxpayers must file IRS Form 5695
Individual taxpayers can claim the credit regardless of income, but the credit is
nonrefundable, so the credit amount you receive can’t exceed the amount you owe in tax.
You can carry forward any leftover (unused) credit and apply it to reduce the tax you owe in
future years.
To qualify, clean energy installations must meet the following standards
• Battery storage must have a minimum capacity of at least 3 kWh.
• Solar water heaters must be certified by the Solar Rating and Certification Corporation or
a comparable entity endorsed by the government of the state where it is installed.
• Geothermal heat pumps must meet the requirements of ENERGY STAR.
Find out more about Home Energy Tax Credits and the Inflation Reduction Act at
IRS.gov/HomeEnergy.
Publication 5968 (5-2024) Catalog Number 94949S Department of the Treasury Internal Revenue Service www.irs.gov