New Energy Efficient Home Credit

We are excited to inform you about the new energy-efficient home credit of the Internal Revenue, which has been amended by the Inflation Reduction Act 2022. As an eligible contractor who constructs a qualified new energy-efficient home, you are entitled to this credit when a person from your team acquires the house for use as a residence during the taxable year.

A qualified home is a dwelling unit located in the United States, constructed substantially after August 8, 2005, and meets the energy-saving requirements. The credit offered depends on the energy-saving requirements the dwelling unit meets and ranges from $500 to $5,000.

For homes that meet the prevailing wage requirements of § 45L(g), the $500 credit is increased to $2,500, and the $1,000 credit is increased to $5,000. The energy-saving requirements include specific Energy Star program requirements (available on the Environmental Protection Agency (EPA) webpage) and specific zero energy-ready home program requirements (available on the Department of Energy (DOE) webpage).

We are pleased to announce that the Notice will be in IRB: 2023-42, dated 10/16/2023. This is a great opportunity for eligible contractors to earn significant credits while promoting energy-efficient homes. We are confident that this will positively impact the US energy-saving efforts.

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