The 2022 Inflation Reduction Act, or IRA, provided tax credits for climate-friendly purchases ranging from heat pumps to solar arrays through 2032. He noted that 2 million people used the home improvement tax credit in its first year alone. But, Ungar added, the tax credits can still save people thousands of dollars before they vanish. All items must be “placed in service” by then to qualify, though a reminder: Tax credits lower your tax liability but don’t come back as rebates. “With or without the tax credit, these improvements bring energy savings that lower energy bills,” he said.