Illinoisans saved more than $260 million on their taxes thanks to home solar and energy efficiency projects

139,100 Illinoisans claimed more than $260 million in tax credits on their 2023 tax returns for installing solar or making other energy efficiency improvements on their homes, according to new data released today by the US Department of the Treasury. 

Under the Inflation Reduction Act (IRA), Americans can get reimbursed for 30% of the cost of installing solar or other renewable energy technologies on their home through the Residential Clean Energy Tax Credit. 32,530 Illinois residents claimed this credit, saving them $179 million on their taxes. 

The IRA also offers a Energy Efficient Home Improvement Credit, which provides tax credits of up to $3,200 for installing more efficient windows, insulation, heat pumps and other energy saving improvements. 111,690 Illinoisans claimed this tax credit, saving an additional $86 million. 

Over 5,000 Illinois residents claimed both tax credits. 

More IRA benefits, including appliances rebates of up to $8,000 for a heat-pump, up to $4,000 for an electrical panel, up to $2,500 for electrical wiring, and up to $1,750 for an electric heat pump water heater will be available for Illinoisans starting early in 2025.