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Rewards of Efficiency: Unlocking Savings with Federal Incentives

Wednesday | November 13, 2024
All News

You know that happy feeling when you find money you forgot you had in a coat pocket or a pair of jeans? You count your cash and celebrate! Found money is awesome!

You can experience that same joy from an unexpected source. Thanks to federal energy efficiency incentives, Uncle Sam could be paying you serious bucks for energy-efficient efforts that you’ve already done or are planning to do.

If you make qualified energy-efficient improvements to your home after Jan. 1, 2023, you may qualify for an annual tax credit up to $3,200. You can claim the credit for improvements made through 2032.

Beginning Jan. 1, 2023, the credit equals 30% of certain qualified expenses, including:

  • Qualified energy efficiency improvements installed during the year such as exterior doors, windows and skylights; insulation and air sealing materials or systems
  • Residential energy property expenses
  • Home energy audits

There are limits on the allowable annual credit and on the amount of credit for certain types of qualified expenses. The credit is allowed for qualifying property placed in service on or after Jan. 1, 2023, and before Jan. 1, 2033.

The maximum credit you can claim each year is:

  • $1,200 for energy property costs and certain energy efficient home improvements, with limits on doors ($250 per door and $500 total), windows ($600) and home energy audits ($150)
  • $2,000 per year for qualified heat pumps, biomass stoves or biomass boilers

The credit has no lifetime dollar limit. You can claim the maximum annual credit every year that you make eligible improvements until 2033.

For complete eligibility requirements, visit www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit.

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Farmers Electric Cooperative, Inc.

2389 Highway 92
Greenfield, IA 50849 


Office: 800-397-4821

Our Mission

Farmers Electric Cooperative, Inc. exists to deliver safe, reliable, affordable electricity and other services to improve the quality of life within our communities.

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©2025 Farmers Electric Cooperative. All Rights Reserved.

  • About Us
    • About Us
    • Annual Meeting
    • Board Of Directors
    • Employees
    • Guiding Documents
    • Mission Statement
    • Power Supplier
    • Publications
    • Service Territory
  • My Account
    • Billing Information
    • Capital Credits (Deferred Patronage Dividends)
    • Understanding My Bill
    • Rates
    • Start/Stop Service
    • Metering
    • Power Outage Tips
    • Payment Options
    • Rebates
    • Contact Us
  • Community
    • Iowa Youth Leadership Academy
    • Youth Tour
    • Economic Development
    • RECare
    • Scholarships
    • Touchstone Energy®
    • Operation Round-Up
  • Member Benefits
    • Brochures
    • Forms
    • Rebates
      • Residential Rebates
      • Commercial Rebates
      • Agricultural Rebates
    • Services
  • Outage & Safety
    • Generator Safety
    • Grain Bin Clearance
    • Iowa One Call
    • Kids Stuff
    • Statewide Outage Information
    • Right-Of-Way Guidelines
    • Safe Electricity
  • Energy Efficiency
    • Rebates
    • Touchstone Energy® - Energy Solutions
    • How A Heat Pump Works
    • Watts $Mart
  • Energy Options
    • Wind & Solar
    • Green Pricing Program
  • Legislative
    • Cooperative Action Network
    • Grassroots