Jerry Weller (R-Ill.), with some modifications. The legislation would spur builders to invest in market- and technology-driven initiatives that would promote higher levels of energy efficiency at more reasonable costs, said Jerry Howard, executive vice president and CEO of NAHB.
For new home construction the legislation would provide builders with a voluntary tax credit of $2,000 for each home built to 30 percent above the 2000 International Energy Conservation Code (IECC). Building to 30 percent above the 2000 IECC is more energy efficient than the U.S. governments current energy efficiency gold standard Energy Star.
This will motivate builders to take on the challenges of building higher energy efficiency into new homes. In turn, builders will have an incentive to market their energy efficient homes to consumers, spurring demand for higher energy efficiency homes in the market at an affordable price, said Howard.
H.R. 6 also provides consumers a tax credit of up to $2,000 on the cost of qualified home remodeling projects that improve energy efficiency. This provision encourages individual households to upgrade the energy efficiency of their homes, helping families shave hundreds of dollars off of their annual heating and cooling bills, said Howard, who noted that reduced energy consumption eases Americas reliance on imported oil.
When House and Senate bills are considered in a conference committee, NAHB will be lobbying on behalf of restoring a tax credit of $2.25 per square foot for multifamily buildings that are 50 percent more efficient than properties built to standards of the American Society of Heating, Refrigerating and Air-Conditioning Engineers. This credit was dropped from H.R. 6 prior to that bills passage.
The Senate energy tax package which includes home energy efficiency tax credits at levels slightly lower than those in the House bill is making its way through committee and is not expected to be ready for a vote on the full Senate floor until later this spring.