Welcome to the inaugural ebulletin for the Energy Efficient Home Improvement Credit

Internal Revenue Service (IRS) sent this bulletin at 11/14/2024 10:00 AM EST

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e-News for Energy Efficient Home Improvement Credit

Nov. 14, 2024

Welcome to the inaugural ebulletin for the Energy Efficient Home Improvement Credit

This ebulletin will provide guidance and resources for qualified manufacturers and home contractors to help customers claim the energy efficient home improvement credit.

Beginning in 2025, for each item of specified property placed in service, no credit will be allowed unless the item was produced by a QM and the taxpayer includes the PIN for the item on the taxpayer’s tax return.

On October 24, 2024, the Department of the Treasury and the Internal Revenue Service issued Revenue Procedure 2024-31 and proposed regulations to provide guidance for the energy efficient home improvement credit.

The revenue procedure provides procedures and requirements that a manufacturer of specified property must follow to be treated as a qualified manufacturer (QM).

To become a QM, a manufacturer must:

Register and enter into an agreement with the IRS.
Assign a qualified product identification number (PIN) unique to each item of specified property.
Label such items with PINs.
File periodic reports to the IRS of PINs assigned.

In early 2025, manufacturers will be able to use IRS Energy Credits Online Portal (IRS ECO) to register with the IRS. IRS ECO is a free electronic service that is secure and requires no special software, making it accessible to large and small businesses alike.

The U.S. Department of Energy released new resources to help home energy efficiency contractors understand how their individual customers could qualify for thousands of dollars in federal tax credits for making energy efficient home improvements made available by the Inflation Reduction Act.

New Resources

The Tax Credit Product Lookup Tool can help determine if new heating, air-conditioning, or water-heating equipment may be eligible for the energy efficient home improvement credit. Contractors—or even homeowners—can enter information about a particular product to determine if it meets tax credit eligibility criteria and receive a single page report that the contractor can provide to the homeowner to save for their records.

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Welcome to the inaugural ebulletin for the Energy Efficient Home Improvement Credit

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