Tips for Claiming 2023 Federal Residential Energy Tax Credit
If you installed our products in 2023, grab a calculator…and a little patience. We’ve gathered this information to help you understand the details you’ll need to provide the IRS to claim applicable federal energy tax credits.
Our entry doors and attic insulation qualify for the 2023 Energy Efficient Home Improvement Tax Credit, as long as you meet certain additional specifications. The 2023 credit equals 30% of the cost of the projects within these guidelines, with a maximum of $1,200. There is a limit of $250 per door (up to two doors).
Our solar products qualify for the Residential Clean Energy Tax Credit, which may provide up to 30% off the total price of your solar energy system, if you meet all IRS guidelines.
Please visit the IRS website for more details.
Step 1: Find the total project purchase price
If you installed our doors, attic insulation, and/or solar products only, retrieve your Custom Remodeling and Improvement Agreement, found on your Project Pulse dashboard. Then locate the project purchase price, found on the first page.
Can’t track down the document? No worries. Call our Customer Care department and we’ll send you a copy.
If you installed any combination of the above products such as doors and solar, or if your project purchase price includes items that do not qualify for the credit, such as roofing or trim, call our Customer Care department to receive the information you need to proceed.
Step 2: Fill out IRS Form 5695
If you installed:
- Our solar energy system: enter the qualified costs on line 1
- Our entry doors and/or attic insulation: enter the cost and calculated qualified in the appropriate lines, 18 for attic insulation, 19 for doors.
CONSULT WITH A TAX PROFESSIONAL
We strongly recommend reviewing Form 5695 with a tax professional to better understand how these credits may apply to your specific tax return.
DISCLAIMER: THE ABOVE IS BEING PROVIDED FOR INFORMATIONAL PURPOSES ONLY. POWER HOME REMODELING GROUP MAKES NO WARRANTIES, REPRESENTATIONS, OR GUARANTEES REGARDING THE AVAILABILITY, APPLICABILITY, OR ELIGIBILITY OF TAX CREDITS RELATED TO THE INSTALLATION AND USE OF POWER’S PRODUCTS. POWER HOME REMODELING GROUP AND ITS REPRESENTATIVES ARE NOT TAX ADVISORS OR ATTORNEYS AND ARE NOT RESPONSIBLE FOR MAINTAINING YOUR ELIGIBILITY FOR ANY FEDERAL, STATE, OR LOCAL TAX CREDITS OR INCENTIVES. FEDERAL, STATE, AND LOCAL TAX CREDIT AND INCENTIVE RULES ARE COMPLEX – YOUR ABILITY TO APPLY ENERGY-EFFICIENCY TAX CREDITS DEPENDS ON YOUR PERSONAL TAX SITUATION. AS SUCH, YOU SHOULD CONSULT WITH YOUR OWN TAX ADVISOR OR ATTORNEY.