Building Upon Your Success
Home Efficiency Rebates( HOMES) Program
The HOMES program was created to reward taxpayers who focus on making performance-based energy upgrades in homes. Per DOE guidance, upgrades must address at least one major upgrade related to heating and cooling, envelope, and / or water heating end uses, plus meet ENERGY STAR product criteria in effect on the date of installation.
To qualify, the taxpayer must achieve at least 20 % energy savings over a standard reference design. If more than 35 % in energy savings is reached, the rebate amount doubles. Taxpayers who achieve between 20 % to 35 % in energy savings may also earn $ 2,000 per dwelling unit, with a cap of $ 200,000 per building. If the improvement reaches more than 35 % in energy services, the rebate increases to $ 4,000 per dwelling unit, with the maximum of $ 400,000 per building. of their area’ s median income). Contractors who perform electrification projects in LMI communities may qualify for contractor rebates up to $ 500 per project.
Similar to the HOMES Rebate, this rebate also cannot be combined with other federal programs.
Maximize Your Incentives
As you continue building energy efficient properties or making enhancements, these tax incentives can present significant tax-savings opportunities when done with the right strategy. Our Construction & Real Estate Group understands the ins and outs of these strategies and works closely with home builders to maximize these incentives. Whether you want to assess your savings potential, determine your current eligibility or obtain overall tax guidance for your business, we know the way
Upgrades made to low- and moderate-income( LMI) households( households with income less than 80 % of the area median) may qualify for double the rebates, meaning $ 4,000 or $ 8,000 per unit, covering up to 80 % of project costs with no building maximum.
Keep in mind, this rebate cannot be combined with any other federal grant or rebate, such as the HEEHR Rebate.
High-Efficiency Electric Home( HEEHR) Rebate
This 10-year rebate program was designed to incentivize owners of multifamily buildings who replace old electric resistance and gas appliances with new energy efficient ones. To qualify, the building must have at least 50 % of residents who are considered LMI households( who earn below 80 % and 150 %
Building Upon Your Success
Building within your business is your skill set, developing a reliable financial blueprint is ours. Serving thousands of contractors and real estate businesses nationwide, count on our dedicated industry pros to help you achieve your business goals through proactive tax, accounting and overall advisory solutions.
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