Energy-Efficiency Tax Credits Reinstated
SS45L is a business tax credit of up to $2,000 for contractors or developers building or renovating dwelling units of up to three stories, including multifamily properties; the credit may be claimed for each unit. The previous version of SS45L required a 50% reduction in energy use compared to the 2003 International Energy Conservation Code (IECC); this has been changed to reference the 2006 IECC. This is not a substantial change to efficiency requirements, as the 2006 IECC update largely focused on simplifying compliance; properties qualifying for the credit based on the previous version are likely to meet the new standards. SS25C is an individual tax credit of 10% of the cost of efficient appliances or property improvements, such as insulation. The credit is capped at $500 and is applicable to all improvements from Decemeber 31, 2011, to December 31, 2013.
Weaver, E. (2013, January 28). Energy-Efficiency Tax Credits Reinstated. Retrieved from https://www.buildinggreen.com/newsbrief/energy-efficiency-tax-credits-reinstated