Did you purchase an energy-efficient appliance at the start of the year? Or are you planning to buy one this Black Friday or as a holiday gift? If so, you’ll want to research and compare ENERGY STAR® tax credits your purchase may be eligible for.
What is ENERGY STAR?
“ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions,” according to energystar.gov.
ENERGY STAR® offers many ways to save electricity. Certified products include:
- TVs, DVD players and sound systems
- Light bulbs, light fixtures and decorative lighting
- Electric heat pump water heaters
- Gas storage water heaters
- Clothes washers and dryers
- Windows, doors and skylights
- Air conditioners, furnaces, smart thermostats and de-humidifiers
- Pool pumps
- Computers, printers and monitors
Sometimes, the federal government offers tax credits, rebates and other deals when you buy ENERGY STAR® certified items. This gives you an extra reason to become more energy efficient.
How do I research and compare ENERGY STAR® tax credits for 2022?
The energystar.gov website makes it easy to see if you qualify for any tax credits. Simply visit the Rebate Finder page and enter your ZIP code. Then, you will be shown all of the offers available in your area.
Or, you can visit the Equipment Tax Credits for Primary Residences page. This provides an alternate view of credits available to you.
How much of a tax credit will I get for buying an ENERGY STAR® certified appliance?
According to the ENERGY STAR® website, you can get a tax credit in one of two forms. Depending on the product, the credit is either 10% of the cost (up to $500) or a specific amount from $50-$300. Tax credits vary by the type and model of product you buy.
However, not all ENERGY STAR® certified products qualify for a rebate or credit, so before you make a purchase, make sure you compare ENERGY STAR® tax credits. Also, read the fine print and know if your product choice(s) qualify for this benefit.
What else should I know as I compare ENERGY STAR® certified appliances?
Sometimes the best energy deals take a little upfront investment. ENERGY STAR® certified appliances may cost more than less efficient products, but they are better for the planet and your electric bill.
Are you thinking about investing in an ENERGY STAR® Certified product? If so, compare ENERGY STAR® tax credits, rebates and other special offers available to you before the year ends.
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