Tax Credits For Heat Pumps 2024. Installing solar panels or upgrading a hot water heater may qualify for home energy tax credits. Starting in 2023, continuing this year and through the end of 2032, all homeowners will be eligible for a 30% federal tax credit on.

While heat pumps are a key target for this incentive,. A geothermal heat pump draws heat from underground that can be used to heat a home.