As part of ongoing tax law changes under the One Big Beautiful Bill Act, several key federal energy tax credits are set to expire or phase out by the end of 2025. We want to ensure you are aware of these deadlines so you can maximize your tax benefits.
Some of What’s Expiring?
- Residential Clean Energy Credit
Provides a tax credit for installing solar panels, solar water heaters, wind turbines, and other renewable energy systems in your home. This credit will expire after December 31, 2025. Projects completed after this date will no longer qualify. - Energy Efficient Home Improvement Credit
Covers eligible improvements such as energy-efficient windows, doors, insulation, and HVAC systems. This credit will expire after December 31, 2025. Completing improvements before this date ensures you receive full credit benefits. - Electric Vehicle (EV) Purchase Credit
The federal tax credit for qualifying new electric vehicles will expire on September 30, 2025. Purchases made after this date will not be eligible for the federal EV tax credit.
Recommendations for You
- Accelerate Home Energy Projects: If you’ve been considering solar or other energy-efficient upgrades, aim to complete these before year-end.
- Consider EV Purchases Soon: If an electric vehicle is in your plans, purchasing by September 30, 2025, is essential to qualify for the credit.
- Consult with Us: We’re here to help you plan effectively to maximize your available tax benefits while these incentives remain in place.
Please contact our office (307-577-4040) if you would like to discuss your specific situation or require assistance in tax planning related to these expiring credits.
In the coming months, we will be sharing more information on additional changes with the new legislation.
