Baystaters saved more than $230 million on their taxes thanks to home solar and energy efficiency projects

99,520 Baystaters claimed more than $230 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. 23,860 Massachusetts residents claimed this credit, saving them $149 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. 80,620 Baystaters claimed this tax credit, saving an additional $82 million. 

Almost 5,000 Massachusetts residents claimed both tax credits. 

To find out how to take advantage of the clean energy tax incentives and rebates for energy efficient appliances, heat pumps, and electrical upgrades visit Mass Save.