The IRA also includes tax credits (available now) and rebates (anticipated in 2024) for contractors who are doing new construction, retrofitting or electrifying of homes and buildings. Download SCS's Contractor Incentive guide here!
45L New Energy Efficient Home Credit | Tax credit for new construction or substantially reconstructed homes that meet the ENERGY STAR program or Zero Energy Ready Home requirements for “extremely efficient homes.” Contractors may claim up to $5,000 per unit.
179D Energy Efficient Commercial Buildings Deduction | Tax credit for building owners or contractors who design a retrofit plan of a commercial building resulting in a reduction of at least 25% in total annual energy and power costs or energy use intensity. Contractors may claim up to $5 per square foot.
Electrification Rebates (HEEHRA) | Program that will provide up-front consumer discounts on energy products for low and medium income households. Contractors may also be able to claim a rebate of up to $500 per qualifying electrification project, wherein they install electric machines in low and moderate-income communities.
Efficiency Rebates (HOMES) | Program that will provide point of sale rebates for consumer weatherization upgrades including insulation, air sealing, and ventilation. Contractors may also be able to claim a rebate of up to $200 per qualifying efficiency project, wherein they perform energy-saving retrofits in disadvantaged communities.
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