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14 49 41 124 alt banner Tax Incentives

FEDERAL TAX INCENTIVES

A cadre of new and/or updated tax credits can now be tapped into through 2032. As always, we highly recommend that you consult a tax professional before undertaking any energy project if you are relying on a tax credit to make the project financially viable.

Electric Panel Upgrade Tax Credit

What Qualifies for this Credit?

Any improvement to, or replacement of, a panelboard, sub-panelboard, branch circuits, or feeders which:

  • is installed in a manner consistent with the National Electric Code,
  • has a load capacity of not less than 200 amps,
  • is installed in conjunction with, and enables the installation and use of:
  • any qualified energy efficiency improvements, or
  • any qualified energy property (heat pump water heater, heat pump, central air conditioner, water heater, furnace or hot water boiler, biomass stove or boiler)

Air Source Heat Pumps

Follow link above to see current federal tax credits for air source heat pumps. Note that the minimum SEER rating for air conditioning systems and heat pumps installed in eastern NC has increased to 15 SEER. You also qualify for a Tideland EMC rebate when installing an air source heat pump with a minimum SEER rating of 16 SEER.

Heat Pump Water Heaters

Follow link above to see current federal tax credits for HPWH up to $2,000. You also qualify for a $300 Tideland rebate when installing a heat pump water heater.

Geothermal heat pumps

In addition to a federal tax credit, geothermal heat pumps qualify for a $300 rebate from Tideland EMC.

Solar Energy Systems - solar water heating and solar photovoltaic systems

Battery Storage Technology

For more information regarding federal tax credits for residential homes visit Energy Star.