The Energy Efficient Home Credit (45L) is a $2,000 federal tax credit per free standing home, per townhouse and per apartment where units and apartment buildings are three stories or less above ground. There is a $1,000 federal tax credit available per manufactured home.
Properties must be substantially completed after August 8, 2005 and must be sold or leased during the tax year the credit is being claimed. For example, if the credit is being claimed for 100 units in the 2007 tax year, all 100 units must have been leased or sold in 2007. This provision applies between January 1, 2006 and December 31, 2013.
Subject properties will be compared to a reference unit in the same climate zone. A reference unit is a comparable unit constructed at the minimum standards of Chapter 4 of the 2004 IECC Supplement (International Energy Conservation Code). The reference dwelling will have an A/C with a SEER of 13, heat pumps at a SEER of 13 and a heating seasonal performance factor of 7.7. All three of these requirements are the bare minimum according to Chapter 4 of the IECC Supplement.
Heating and cooling energy consumption must be at least 50% below that of the reference unit and 10% of the 50% must be due to the building envelope improvements.
Before claiming the credit units must be certified. Bedford will provide a 45L checklist of the information needed to proceed with a project. A preliminary review will be completed within three days of receipt of the items listed on the checklist. Prior to the preliminary review, Bedford will determine if the project fits the requirements to proceed with the analysis of all units.