Individual Income Tax Filing: Tax Credits: Residential Energy Credit
RDEGCT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,613,477.00
Year-over-Year Change
-39.84%
Date Range
1/1/2006 - 1/1/2016
Summary
The Residential Energy Credit (RDEGCT) tracks the total tax credits claimed by individual income tax filers for residential energy efficiency improvements, providing insights into consumer investments in green technology.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Residential Energy Credit measures the total value of tax credits claimed by individual taxpayers for qualifying energy-efficient home upgrades, such as installing solar panels, insulation, or energy-efficient windows. This data point is used by policymakers and economists to gauge consumer demand and investment in sustainable home improvements.
Methodology
The data is collected annually from individual income tax returns filed with the Internal Revenue Service.
Historical Context
This metric is relevant for understanding consumer behavior, energy policy, and the residential construction industry.
Key Facts
- The Residential Energy Credit was first introduced in 2006.
- Tax credits can be claimed for up to 30% of the cost of eligible home upgrades.
- The credit has been extended multiple times by Congress to encourage sustainable home improvements.
FAQs
Q: What does this economic trend measure?
A: The Residential Energy Credit (RDEGCT) tracks the total tax credits claimed by individual income tax filers for energy-efficient home upgrades, such as solar panels and insulation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and investment in sustainable home improvements, which is relevant for policymakers, the construction industry, and those interested in trends in energy efficiency.
Q: How is this data collected or calculated?
A: The data is collected annually from individual income tax returns filed with the Internal Revenue Service.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers to gauge the effectiveness of tax incentives for residential energy efficiency and to inform future policy decisions in this area.
Q: Are there update delays or limitations?
A: The data is published annually, with a delay of several months, as it is based on individual tax filings.
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Citation
U.S. Federal Reserve, Individual Income Tax Filing: Tax Credits: Residential Energy Credit (RDEGCT), retrieved from FRED.