FILE - A 2022 Ford Mustang Mach-E electric sports utility vehicle (SUV) on a demonstration course at AutoMobility LA ahead of the Los Angeles Auto Show in Los Angeles, California, on Nov.
18, 2021. Photographer: Bing Guan/Bloomberg via Getty Images WASHINGTON - Many Americans have woven green practices into their everyday lives — from recycling to going paperless and even cutting back on meat consumption.Switching to clean energy or purchasing an electric vehicle are additional ways to go green, but large-scale upgrades also often come with major price tags.
Several existing tax credits can help to offset the cost of the commitment — but it pays to know the details.Whether you’re looking to make some upgrades this year or are wondering if any changes you made in 2021 count toward a tax discount, here’s a quick-start guide to the current federal tax incentives for energy efficiency and other green upgrades.Upgrading to an electric vehicle comes with a few feel-good benefits.
Apart from lowering your carbon footprint, electric vehicles often require less maintenance and cost less to fuel than their gas-powered counterparts.Your purchase might even count toward a federal tax credit of up to $7,500.