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The Inflation Reduction Act of 2022 provides federal tax credits and deductions that empower Americans to make homes and buildings more energy-efficient to help reduce energy costs while reducing demand as we transition to cleaner energy sources.

New federal income tax credits are available through 2032 providing up to $3,200 annually to lower the cost of energy efficient home upgrades by up to 30 percent. Improvements such as installing heat pumps, heat pump water heaters, insulation, doors and windows, as well as electrical panel upgrades, home energy audits and more, are covered by the tax credits and can help families save money on their monthly energy bills for years to come.

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In addition to the energy efficiency credits, homeowners can also take advantage of the modified and extended Residential Clean Energy credit, which provides a 30 percent income tax credit for clean energy equipment, such as rooftop solar, wind energy, geothermal heat pumps and battery storage through 2032, stepping down to 22 percent for 2033 and 2034.

The Inflation Reduction Act of 2022 updates and extends the Section 45L New Energy Efficient Home Credit ( 45L credit). For homes and apartments (referred to as dwelling units in 45L) acquired on or after January 1, 2023, the tax credit for home builders is specifically tied to certification to an eligible version of the relevant ENERGY STAR program requirements for single-family, manufactured, and multifamily homes, and the tax credit has been extended through 2032.

The federal tax credits for energy efficiency were extended as part of the Inflation Reduction Act of 2022. So, if you made any qualifying home improvements to your primary residence after December 31, 2021, you may be eligible to claim them on your taxes when you file for 2022.

The ENERGY STAR Home Upgrade is a set of six high-impact, energy efficiency improvements for your home, designed to work together to deliver significant energy and cost savings. These upgrades can help you transition from fossil fuels for a cleaner, healthier and more comfortable home.

As part of the Inflation Reduction Act (IRA), the Section 45L New Energy Efficient Home Credit ( 45L credit) has been updated and extended through 2032. For eligible homes and apartments (referred to as dwelling units in 45L) acquired on or after January 1, 2023, the tax credit is now specifically tied to certification to an eligible version of the relevant ENERGY STAR program requirements.

In addition, partners should also be aware that, in some cases, a home may be certified as ENERGY STAR using a version of the program requirements that is not eligible for the 45L credit. For example, in 2023, 45L requires that a dwelling unit be certified to MFNC National v1.1 program requirements to be eligible for the tax credit; however, in many states, EPA allows homes to be certified as ENERGY STAR using the MFNC National v1.0 program requirements. See the ENERGY STAR Program Requirements webpage for more information.

The energy efficient home credit (the 45L credit), which provides eligible contractors up to a $5,000 tax credit for each energy efficient dwelling unit, is retroactively available for projects placed in service from 2020 to 2022, and through the end of 2032. Read on for eligibility requirements and then submit a 45L qualification form to see if your project is a good fit.

An eligible contractor must obtain certification from an eligible certifier before claiming the energy efficient home credit with respect to the dwelling unit. An eligible certifier is a person not related to the eligible contractor that has been accredited or otherwise authorized by the Residential Energy Services Network (RESNET) or an equivalent rating network. The certifier conducts computer modeling and on-site testing and prepares a certification package with declaration that under penalties of perjury the certifier believes that the facts presented in the certification are true, correct and complete. The fee for certification is typically charged on a per unit basis.

The 45L credit is available to an eligible contractor in the year the certified dwelling units are leased or sold. Previously, there was some confusion as to who qualifies as the eligible contractor with respect to the home. For purposes of 45L, a person must own and have basis in the qualified energy efficient home during the construction to qualify as the eligible contractor with respect to the home. For example, if a person hires a third party contractor to construct the home owns and has basis in the home during its construction, the person that hires the third party contractor is the eligible contractor and the third party contractor is not the eligible contractor.

ZERH certified homes acquired after December 31, 2022 may be eligible for the 45L tax credit. For such ZERH certified homes, Section 45L and IRS Notice 2023-65 set forth specific eligibility requirements for the 45L tax credit, including the following:

The ZERH website, including this webpage, only addresses the first of these criteria, ZERH certification requirements. See IRS guidance for Section 45L eligibility requirements pertaining to eligible contractors and acquisition of a qualified home.

For questions related to how to build and certify homes under the DOE Zero Energy Ready Home program contact a DOE ZERH Builder or Verifier Partner. Current ZERH builders and verifier partners can be found on the Partner Locator tool.

The IRS issued Notice 2023-65, providing guidance on the new energy efficient home credit under section 45L as amended by the Inflation Reduction Act of 2022. Notice 2023-65 provides guidance on (1) the taxpayer eligible for the credit, (2) determining the amount of the credit, (3) energy saving requirements, (4) certification requirements and (5) substantiation requirements.

The Internal Revenue Service issued Notice 2023-65 (the Notice), providing guidance on the new energy efficient home credit under section 45L as amended by the Inflation Reduction Act of 2022 (IRA). Notice 2023-65 provides guidance on (1) the taxpayer eligible for the credit, (2) determining the amount of the credit, (3) energy saving requirements, (4) certification requirements and (5) substantiation requirements.

The Notice instructs that the section 45L credit for the taxable year equals the applicable amount for each qualified home constructed or manufactured by an eligible contractor and acquired by a person from such contractor after Dec. 31, 2022, and before Jan. 1, 2033, for use as a residence during the taxable year for which the taxpayer is claiming the 45L credit.

Under the IRA, the eligible contractor may claim a section 45L credit ranging from $500 to $5,000 per dwelling unit, depending on which energy savings criteria the home satisfies. For multifamily homes, section 45L offers bonus credit amounts for meeting the prevailing wage requirements.

The IRA set new energy savings requirements outlined in section 45(c) that look to certain Energy Star programs or zero energy home programs (ZERH programs) established by the Department of Energy (DOE). The Notice directs taxpayer to the Energy Star webpage or the DOE webpage to determine the energy savings requirements for single family, multi-family and manufactured homes. The Notice directs taxpayers to the same webpages to determine the requirements for the necessary certifications that a home has met the requirements of the applicable Energy Star or ZERH program.

The Notice provides basic guidance related to the credit and confirms the need to consult the Energy Star and DOE webpages to proactively plan into the section 45L credit. Taxpayers may continue to rely on the old Notices for credit claims related to qualified homes acquired prior to Jan. 1, 2023, that meet the less stringent energy saving requirements.

You can find the amount of this assessment on the billing statement or other statements provided to a resident by the nursing home. The assessment amount is not the amount of expenses paid.

The 45L Energy Efficient Home Credit, as established by the Energy Policy Act of 2005, allows eligible developers to claim a tax credit for each dwelling unit. Both single family homebuilders and multifamily developers can benefit from the 45L Credit. The Inflation Reduction Act of 2022 extended the 45L Credit for homes sold or leased during 2022 with little modification.

An eligible contractor must have constructed a qualified energy efficient home, as well as owned and have had a basis in the home during its construction. Both new construction and renovations to existing residences are eligible when they meet the following qualifications:

Section 13304 of the IRA extends and expands the New Energy Efficient Home Credit established in section 45L of the IRC. The credit is available to homeowners that satisfy either energy saving or Zero Energy Home Program requirements set by the Department of Energy. Prior to enactment of the IRA, the credit was due to expire on December 31, 2021. Section 13304 of the IRA amends section 45L of the IRC to extend the credit through December 31, 2032.

The IRA also increases the amount of the credit. As a result of the IRA amendments, newly constructed single family homes will be eligible for a credit of $2,500 to $5,000. The credit for newly constructed multi-family homes ranges from $500 to $1000, but increases to $2,500 to $5,000 if certain wage requirements are met. The Treasury Department must issue rules and guidelines to implement the wage requirements.

Definition: An eligible contractor is a person who built, owned, and maintained basis in the home during construction. New construction or substantial reconstruction can both qualify.

A home can meet the requirements for 45L if it is certified under the minimum Energy Star or Zero Energy Ready Home program requirements. The Department of Energy (DoE) will maintain an updated program list on its website. ff782bc1db