Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Reuters: US Treasury: homes must be 'zero energy ready' to get full tax credit
US Treasury: homes must be 'zero energy ready' to get full tax creditReuters
September 28, 2023 4:45 PM EDT
WASHINGTON, Sept 28 (Reuters) - The U.S. Treasury on Thursday released new guidance on energy efficient home tax credits worth up to $5,000 per dwelling, showing that for builders to receive the full amount, the homes must be fully capable of supporting solar power, electric heat pumps, electric vehicles and other efficiency enhancements.
The Internal Revenue Services guidance is among a series of clarifications of Inflation Reduction Act clean energy tax credit rules due before the end of 2023, including a provision aimed at deterring companies from relying on Chinese supply chains.
The "45L" tax credit for energy efficient homes acquired from 2023 through 2032 ranges from $500 to $5,000 per dwelling, with the homes meeting lesser Energy Star efficient appliance standards qualifying for the low end, and those meeting Department of Energy Zero Energy Ready Home requirements qualifying for the maximum.
For homes in multi-family buildings to qualify for the full $5,000 credit, builders also must pay workers the area's prevailing wage, according to the IRS guidance.
…
September 28, 2023 4:45 PM EDT
WASHINGTON, Sept 28 (Reuters) - The U.S. Treasury on Thursday released new guidance on energy efficient home tax credits worth up to $5,000 per dwelling, showing that for builders to receive the full amount, the homes must be fully capable of supporting solar power, electric heat pumps, electric vehicles and other efficiency enhancements.
The Internal Revenue Services guidance is among a series of clarifications of Inflation Reduction Act clean energy tax credit rules due before the end of 2023, including a provision aimed at deterring companies from relying on Chinese supply chains.
The "45L" tax credit for energy efficient homes acquired from 2023 through 2032 ranges from $500 to $5,000 per dwelling, with the homes meeting lesser Energy Star efficient appliance standards qualifying for the low end, and those meeting Department of Energy Zero Energy Ready Home requirements qualifying for the maximum.
For homes in multi-family buildings to qualify for the full $5,000 credit, builders also must pay workers the area's prevailing wage, according to the IRS guidance.
…