EFFICIENT BUILDERS CAN EARN A $2000 TAX CREDIT
Emotiv offers third party verification for builders of high-
performance homes to obtain their $2000 tax credit through
2008.
The IRS has issued the rules for the new federal tax credits for
residential energy efficiency available under the Energy Policy
Act of 2005.
Energy Efficient Homes
Under the provision for energy efficient homes, an eligible
contractor who constructs a qualified new energy efficient
home may qualify for a credit of up to $2,000. The credit is
available for all new homes, including manufactured homes
constructed in accordance with the Federal Manufactured
Homes Construction and Safety Standards.
The home qualifies for the credit if:
In general, to meet the energy saving requirements, a home
must be certified to provide a level of heating and cooling
energy consumption that is at least 30 to 50 percent, in the
case of manufactured homes, and 50 percent for other homes,
below that of a comparable home constructed in accordance
with the standards of the 2004 Supplement to the 2003
International Energy Conservation Code. It must also have
building envelope component improvements providing a level of
heating and cooling energy consumption that is at least 10
percent below that of a comparable home.
Manufactured homes can also qualify for the credit by meeting
Energy Star standards.
Emotiv offers third party verification for builders of high-
performance homes to obtain their $2000 tax credit through
2008.
The IRS has issued the rules for the new federal tax credits for
residential energy efficiency available under the Energy Policy
Act of 2005.
Energy Efficient Homes
Under the provision for energy efficient homes, an eligible
contractor who constructs a qualified new energy efficient
home may qualify for a credit of up to $2,000. The credit is
available for all new homes, including manufactured homes
constructed in accordance with the Federal Manufactured
Homes Construction and Safety Standards.
The home qualifies for the credit if:
- It is located in the United States;
- Its construction is substantially completed after August
8, 2005; - It meets the statutory energy saving requirements, and
- It is acquired from the eligible contractor after December
31, 2005, and before January 1, 2008, for use as a
residence.
In general, to meet the energy saving requirements, a home
must be certified to provide a level of heating and cooling
energy consumption that is at least 30 to 50 percent, in the
case of manufactured homes, and 50 percent for other homes,
below that of a comparable home constructed in accordance
with the standards of the 2004 Supplement to the 2003
International Energy Conservation Code. It must also have
building envelope component improvements providing a level of
heating and cooling energy consumption that is at least 10
percent below that of a comparable home.
Manufactured homes can also qualify for the credit by meeting
Energy Star standards.
- Site-built homes qualify for a $2,000 credit if they reduce
energy consumption by 50 percent relative to the
International Energy Conservation Code standard. - Manufactured homes qualify for a $1,000 or $2,000
credit depending on the level of energy savings achieved.
| Copyright © 2008 Emotiv cdwyer@emotivenergy.com 513.884.7415 |
new home tax credits
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