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Tax Credit Overview Residential New Construction Tax Credit A $2000 tax credit for new homes that are at least 50% more efficient than required by current building codes will encourage builders (who do not pay the energy bills for the homes they build) to construct energy-efficient houses, and increase the market for efficient technologies and practices
Residential Existing Home Tax Credit Consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in their home can receive a tax credit of up to $500 beginning in January 2006.
Commercial Tax Deduction This provision offers business taxpayers a deduction of $1.80 per square foot for commercial buildings that achieve a 50% reduction in annual energy cost to the user, compared to a base building defined by the industry standard ASHRAE/IESNA 90.1-2001.Heating, cooling, and lighting commercial buildings accounts for about 9% of total national energy consumption. A tax credit for new and renovated buildings that use 50% less energy than required by building codes will encourage owners to install efficient technologies and will help reduce natural gas and peak electric demand.
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