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9/27/2023 U.S. Department of the Treasury, IRS Release Guidance to Lower Americans Utility Bills, Increase Energy Efficiency of … U.S. Department of the Treasury, IRS Release Guidance to Lower Americans Utility Bills, Increase Energy Efficiency of Homes September 27, 2023 Energy e icient home credit provides up to $5,000 to home builders for cost-saving upgrades Washington, D.C. — As part of the Biden-Harris Administrationʼs Investing in America agenda, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) today released guidance on an important provision of the Inflation Reduction Act that will lower Americansʼ utility bills. This program shows the Investing in America agenda in action: lowering energy costs for hardworking families and creating good-paying jobs. The Inflation Reduction Act extended and enhanced the energy e icient home credit (45L) and allows home builders who construct, reconstruct, or rehabilitate energy e icient homes a tax credit of up to $5,000 per home. Todayʼs guidance provides clarity to home builders on the qualifications for the credit. “President Bidenʼs Investing in America agenda is focused on reducing costs for Americans, and the Inflation Reduction Act is lowering utility bills by providing increased incentives to make homes more energy e icient,” said Deputy Secretary of the Treasury Wally Adeyemo. “Treasuryʼs guidance provides clarity and certainty to home builders planning construction projects.” The value of the home builders credit depends on the type of home and the homeʼs energy e iciency. For multifamily dwelling units, contractors receive the full $5,000 credit only if construction workers are paid a prevailing wage. To qualify for the credit, homes must be eligible to participate in certain Energy Star programs and meet applicable energy saving requirements based on home type. For homes acquired in 2023 through 2032, the credit amount ranges from $500 to $5,000, depending on whether Energy Star or Zero Energy Ready Home program requirements are met. These programs certify the energy e iciency of a homeʼs appliances, lighting, insulation, and duct systems, as well as whether the home can accommodate heat pumps and electric vehicles. Homes must be certified by a third-party to verify they meet the requirements. https://home.treasury.gov/news/press-releases/jy1768 1/4 9/27/2023 U.S. Department of the Treasury, IRS Release Guidance to Lower Americans Utility Bills, Increase Energy Efficiency of … For homes acquired before 2023, the credit amount is $1,000 or $2,000, depending on the standards met, which include certifying that the home has an annual level of heating and cooling energy consumption that is at least 50% (or 30% for certain manufactured homes) less than that of a comparable home that meets certain energy standards, with building envelope component improvements accounting for at least 1/5 (or 1/3 for certain manufactured homes) of the reduction. For a full list of the Treasury Departmentʼs work to implement the Inflation Reduction Act, see below: August 16, 2022: Treasury Releases Initial Information on Electric Vehicle Tax Credit Under Newly Enacted Inflation Reduction Act October 5, 2022: Treasury Seeks Public Input on Implementing the Inflation Reduction Actʼs Clean Energy Tax Incentives FACT SHEET: Treasury, IRS Open Public Comment on Implementing the Inflation Reduction Actʼs Clean Energy Tax Incentives October 26, 2022: READOUT: Stakeholder Roundtable on Clean Power Generation and the Inflation Reduction Act October 27, 2022: READOUT: Stakeholder Roundtable on Climate Impact, Equity, and the Inflation Reduction Act FACT SHEET: Four ways the Inflation Reduction Actʼs Tax Incentives Will Support Building an Equitable Clean Energy Economy October 31, 2022: READOUT: Stakeholder Roundtable on Investor Perspectives on Climate Change, Clean Energy, and the Inflation Reduction Act November 3, 2022: Treasury Seeks Public Input on Additional Clean Energy Tax Provisions of the Inflation Reduction Act November 4, 2022: READOUT: Stakeholder Roundtable on Clean Vehicles and the Inflation Reduction Act https://home.treasury.gov/news/press-releases/jy1768 2/4 9/27/2023 U.S. Department of the Treasury, IRS Release Guidance to Lower Americans Utility Bills, Increase Energy Efficiency of … November 29, 2022: Treasury Announces Guidance on Inflation Reduction Actʼs Strong Labor Protections December 12, 2022: Treasury and IRS set out procedures for manufacturers, sellers of clean vehicles December 19, 2022: Treasury, IRS issue guidance on new Sustainable Aviation Fuel Credit December 22, 2022: IRS releases frequently asked questions about energy e icient home improvements and residential clean energy property credits January 17, 2023: Remarks by Deputy Secretary of the Treasury Wally Adeyemo at White House event “Lowering Costs: Inflation Reduction Act Briefing” January 29, 2023: Statement from Deputy Secretary of the Treasury Wally Adeyemo on Implementation of Strong Inflation Reduction Act Worker Protections February 3, 2023: Treasury Updates Vehicle Classification Standard for Clean Vehicle Tax Credits Under Inflation Reduction Act February 13, 2023: Treasury, Energy Release Guidance on Inflation Reduction Act Programs to Incentivize Investments in Underserved Communities, Hard-Hit Coal Communities March 22, 2023: Remarks by Assistant Secretary for Tax Policy Lily Batchelder on Implementation of the Inflation Reduction Actʼs Clean Energy Provisions March 31, 2023: Treasury Releases Proposed Guidance on New Clean Vehicle Credit to Lower Costs for Consumers, Build U.S. Industrial Base, Strengthen Supply Chains April 4, 2023: Treasury Releases Guidance to Drive Investment to Coal Communities April 14, 2023: READOUT: Treasury Convenes Roundtable Discussion on Inflation Reduction Act Incentives for Underserved Communities https://home.treasury.gov/news/press-releases/jy1768 3/4 9/27/2023 U.S. Department of the Treasury, IRS Release Guidance to Lower Americans Utility Bills, Increase Energy Efficiency of … April 27, 2023: READOUT: Treasury Department Convenes Roundtable Discussion on Inflation Reduction Act Incentives for Underserved Communities May 12, 2023: Treasury Department Releases Guidance to Boost American Clean Energy Manufacturing May 31, 2023: U.S. Departments of Treasury and Energy Release Additional Guidance on Inflation Reduction Act Programs to Incentivize Manufacturing and Clean Energy Investments in Hard-Hit Coal Communities June 14, 2023: U.S. Department of the Treasury, IRS Release Guidance on Provisions to Expand Reach of Clean Energy Tax Credits Through President Bidenʼs Investing in America Agenda June 15, 2023: U.S. Department of the Treasury, IRS Release Updated Guidance to Drive Additional Investment to Energy Communities August 4, 2023: Home energy audits may qualify for an Energy E icient Home Improvement Credit August 7, 2023: IRS: Builders of qualified new energy e icient homes might qualify for an expanded tax credit under Section 45L August 10, 2023: U.S. Department of the Treasury, IRS Release Final Rules and Guidance on Investing in America Program to Spur Clean Energy Investments in Underserved Communities August 29, 2023: U.S. Department of the Treasury, IRS Release Guidance on Inflation Reduction Act Provision to Ensure Good-Paying Clean Energy Jobs, Expand Clean Energy Workforce September 27, 2023: U.S. Department of the Treasury, U.S. Department of Energy, IRS Announce Date for Opening of Applications for Investing in America Program to Spur Clean Energy Investments in Underserved Communities ### https://home.treasury.gov/news/press-releases/jy1768 4/4
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