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Tax Credit and Grant Information

Residential Tax Credits:

As of 2022, there are federal tax credits available for energy efficient home improvements, including lighting upgrades. These credits were extended as part of the Inflation Reduction Act (IRA) of 2022.

Qualifying Improvements:

Certain energy efficient home improvements qualify for tax credits. These include upgrades to your home's "envelope" such as windows, doors, insulation, and air sealing products. It is possible that LED upgrades can be included, however, check with your tax professional based on your situation.

For details, see IRS: Energy Efficient Home Improvement Credit

For FAQs, see IRS: Energy Efficient Home Improvement Credit

Commercial Tax Deductions:

For businesses, there are more substantial tax benefits available for LED lighting upgrades:

Bonus Depreciation:

LED lighting installed in non-residential buildings may qualify for immediate write-offs using 100% bonus depreciation or Section 179, provided the lighting is installed after the building is in service.

For details, see Investopia: Section 179 Definition, How It Works

Qualified Improvement Property (QIP):

LED lighting may fall under QIP, allowing for immediate deductions rather than spreading them over several years.

Energy Efficient Commercial Buildings Deduction:

This deduction (Section 179D) allows up to $0.60 per square foot for qualifying energy-efficient lighting upgrades in commercial buildings.

For details, see IRS: Energy Efficient Commercial Buildings Deduction

It's important to note that while there are clear tax benefits for businesses upgrading to LED lighting, for the most accurate and up-to-date information regarding residential tax credits for LED light bulbs, it would be best to consult with a tax professional or check the latest IRS guidelines.

Grants:

Specific residential LED lighting rebates are common and potentially valuable. To find specific rebates available in your area, it would be best to check with your local utility company or use resources like the Database of State Incentives for Renewables and Efficiency.

Database here: Database of State Incentives for Renewables & Efficiency