Over 3.4 Million U.S. Households Claimed $8.4 Billion in Clean Energy Tax Credits in 2023

Inflation Reduction Act incentives for home efficiency upgrades exceeded expectations, benefiting millions of Americans.

IRS data shows a significant uptake in residential clean energy and home improvement credits, surpassing initial projections.
The residential clean energy credit alone accounted for $6.3 billion, largely driven by rooftop solar installations.
Energy-efficient home improvement projects, including insulation and heat pumps, claimed $2.1 billion in credits.
Nearly half of the households that claimed credits had incomes below $100,000, though higher earners reaped the majority of the benefits.
Experts predict continued growth in the adoption of clean energy technologies as public awareness increases.