According to Goldman Sachs, the act will be “most transformational” in promoting residential battery storage, but it also shores up funds for scores of other products that could save individual households thousands and even tens of thousands of dollars. Most of the provisions won’t start kicking in until next year, though a few are already available as enhancements on expiring credits.

All told, Congress’ Joint Committee on Taxation estimates the government will dole out nearly $37 billion in individual tax credits for green improvements to buildings over the next ten years. There are also potential savings for consumers after those improvements are made. For example, households making the switch from fuel oil or propane to electric heating are projected to save an average of $493 per year, 

Starting next year, this uncapped credit will extend to battery storage installation, which costs an average of $16,000—therefore tacking on an average $4,800 in potential tax savings. If you're looking to spend on an electrical panel, you can also do so with this credit—but only if it's upgraded in conjunction with the installation of rooftop solar. Otherwise, you'll face a cap (more on that below).

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