Time Running Out For Cost Saving Upgrades
This past summer, the One Big Beautiful Bill (OBBB) cut several home energy tax credit programs short. So we urged our readers to finish any energy saving improvements before the end of the year. Afterwards, it will be too late! You still have time to take advantage of tax credits for these energy upgrades that could put a dent in your Ohio energy bills.
Heating And Cooling Improvements
Over half of the energy we use is spent on heating and cooling. So it’s no surprise that this is where we can make our most dramatic energy savings. In fact, replacing a 10 year-old air conditioner can save up to 20% on cooling costs by itself! Certain modern heat pump systems can even cut your energy use for heating by up to 75%!
You might also consider insulating your water heater, for a cheap DIY project. Two hours of work could reduce energy use by up to 16%.
Air Sealing Your Home Saves Energy
Heat gain and loss through inefficient windows is responsible for up to 30% of energy used. You can cut this energy use by replacing older windows or installing window coverings. You can also cut energy use by as much as 20% if you add weatherstripping to your exterior doors.
You can find more savings if you insulate leaky attics or pipes. A home energy assessment can detect if you need attic and pipe insulation. While professional assessments can give you a complete picture, you can find more common problems with a DIY inspection. This can dramatically cut your energy usage and make your home cozier all year round.
Are Solar Panels An Option?
Most companies can install solar panels in as little as a few days. However, installation comes after a lot of prep work and utility approval. Finding the right company for the work can take up to a month. Then they will have to do site assessments and planning to make sure the solar panels do the job right.
While this sounds like a lot, it is still possible to get solar installed before 2026. Just make sure you ask your chosen company for a realistic timeline estimate. You can’t claim tax credits if the work isn’t finished this year.
When Is The Tax Credit Deadline?
A federal home energy efficiency tax credit program allowed homeowners to claim up to $3,200 for efficient energy upgrades. Originally, these credits were to remain in effect through the year 2032! However, the OBBB cuts this program short. So now, you cannot claim a tax credit for any home energy improvements that are not complete by December 31, 2025.
Act Now Before Tax Credit Deadlines
It’s impossible to deny that energy costs are on the rise. That’s why it’s important to make any energy improvements you can to cut costs. However, the OBBB makes it harder after this year. But if you act now, you can still claim credits and set up long-term savings.
You can count on https://www.ohenergyratings.com for tips that could save you money. We’re also your best choice to shop for the best energy plans in town.