{"id":4597,"date":"2023-09-20T11:07:12","date_gmt":"2023-09-20T16:07:12","guid":{"rendered":"https:\/\/cookco.us\/news\/?p=4597"},"modified":"2023-09-20T11:07:22","modified_gmt":"2023-09-20T16:07:22","slug":"new-energy-efficient-homes","status":"publish","type":"post","link":"https:\/\/cookco.us\/news\/new-energy-efficient-homes\/","title":{"rendered":"New Energy Efficient Homes"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Builders of new energy efficient homes may qualify for an expanded tax credit<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Eligible contractors who build or substantially reconstruct qualified new energy efficient homes may be eligible for a tax credit up to $5,000 per home. The actual amount of the credit depends on eligibility requirements such as the type of home, the home&#8217;s energy efficiency and the date when someone buys or leases the home.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Contractors must meet eligibility requirements<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Construct or substantially reconstruct a qualified home.<\/li>\n\n\n\n<li>Own the home and have a basis in it during construction.<\/li>\n\n\n\n<li>Sell or rent it to a person for use as a residence.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>To qualify, a home must be<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A single-family (including manufactured homes) or multifamily home, as defined under certain Energy Star program requirements.<\/li>\n\n\n\n<li>Located in the United States.<\/li>\n\n\n\n<li>Purchased or rented for use as a residence.<\/li>\n\n\n\n<li>Certified to meet applicable energy saving requirements based on home type and acquisition date.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Requirements and credit amounts for 2023 and after<\/strong>:<br>For homes acquired in 2023 through 2032, the credit amount ranges from $500 to $5,000, depending on the standards met, which include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Energy Star program requirements.<\/li>\n\n\n\n<li>Zero energy ready home program requirements.<\/li>\n\n\n\n<li>Prevailing wage requirements.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Requirements and credit amounts before 2023<\/strong>:<br>For homes acquired before 2023, the credit amount is $1,000 if the 30% standard is met or $2,000 if the 50% standard is met. The standards include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>For the 50% standard, certifying that the home has an annual level of heating and cooling energy consumption that is at least 50% less energy than a comparable home and gets at least 1\/5 of its energy savings from building envelope improvements.<\/li>\n\n\n\n<li>For the 30% standard, certifying that the home has an annual level of hearing and cooling energy consumption that is at least 30% less energy than a comparable home.<\/li>\n\n\n\n<li>Meeting certain federal manufactured home rules.<\/li>\n\n\n\n<li>Meeting certain Energy Star requirements.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Properly claiming the credit<\/strong>:<br>Eligible contractors must meet all requirements before claiming the credit. Eligible contractors should review the <a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMjcsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvaW5zdHJ1Y3Rpb25zL2k4OTA4I2VuX1VTXzIwMjMwMV9wdWJsaW5rMTAwMDQyMjk1IiwiYnVsbGV0aW5faWQiOiIyMDIzMDkyMC44Mjg2NDAwMSJ9.cznUXdkkIG5zBjFiclziGg_1QE3P6DjY8u4oF978bLc\/s\/7110380\/br\/226271330027-l\">Instructions for Form 8908, Energy Efficient Home Credit<\/a>, for full details about these requirements. They must complete&nbsp;<a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMjgsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvZm9ybXMtcHVicy9hYm91dC1mb3JtLTg5MDgiLCJidWxsZXRpbl9pZCI6IjIwMjMwOTIwLjgyODY0MDAxIn0._t9lrrbjDIhrVShmxGiTPUxM1o52WG6lxbz2VJkuDxo\/s\/7110380\/br\/226271330027-l\">Form 8908, Energy Efficient Home Credit<\/a>, and submit it with their tax return to claim the credit.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>More information<\/strong>:<br><a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMjksInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvY3JlZGl0cy1kZWR1Y3Rpb25zL2NyZWRpdC1mb3ItYnVpbGRlcnMtb2YtZW5lcmd5LWVmZmljaWVudC1ob21lcyIsImJ1bGxldGluX2lkIjoiMjAyMzA5MjAuODI4NjQwMDEifQ.lyjBhpbO1U8bCSLvb-3x8Bh27qpD8kVpedWR9H-wEFI\/s\/7110380\/br\/226271330027-l\">Credit for Builders of Energy-Efficient Homes<\/a><br><a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMzAsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvaW5zdHJ1Y3Rpb25zL2k4OTA4IiwiYnVsbGV0aW5faWQiOiIyMDIzMDkyMC44Mjg2NDAwMSJ9.cQ4mt8V1NYGBqh4R0XcZQ2uD24sIG119iPHQ-vcRT2I\/s\/7110380\/br\/226271330027-l\">Instructions for Form 8908<\/a><br><a href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMzEsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvY3JlZGl0cy1hbmQtZGVkdWN0aW9ucy11bmRlci10aGUtaW5mbGF0aW9uLXJlZHVjdGlvbi1hY3Qtb2YtMjAyMiIsImJ1bGxldGluX2lkIjoiMjAyMzA5MjAuODI4NjQwMDEifQ.5eaEUbUUqPB6opBQ5SiuDkj-LwlxA874VEsP_aUI7Wc\/s\/7110380\/br\/226271330027-l\">Credits and Deductions Under the Inflation Reduction Act of 2022<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Builders of new energy efficient homes may qualify for an expanded tax credit Eligible contractors who build or substantially reconstruct qualified new energy efficient homes may be eligible for a tax credit up to $5,000 per home. The actual amount of the credit depends on eligibility requirements such as the type of home, the home&#8217;s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4598,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"2023-09-20T16:03:57Z","apple_news_api_id":"11861cc7-ffe7-484f-8a19-fa6e07c1facc","apple_news_api_modified_at":"2023-09-20T16:03:57Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/AEYYcx__nSE-KGfpuB8H6zA","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-4597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax"],"apple_news_notices":[],"_links":{"self":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/4597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/comments?post=4597"}],"version-history":[{"count":0,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/4597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media\/4598"}],"wp:attachment":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media?parent=4597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/categories?post=4597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/tags?post=4597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}