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Residential Tax Credits and Rebate Programs
Home Energy Rebate Option (HERO)
Incentive Type: State Rebate Program
Eligible Efficiency Technologies: Comprehensive Measures/Whole Building, Custom/Others pending approval
Applicable Sectors: Residential
Incentive Amount: Up to 20% of costs
Maximum Incentive: $2,000
Project Review/Certification: New homes no longer are eligible under the program; existing homes must have improved energy efficiency of at least 30%
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Web Site: http://www.dnr.louisiana.gov/sec/execdiv/techasmt/programs/residential/hero/index.htm
Summary:
The Home Energy Rebate Option (HERO) Program is offered by the Louisiana Department of Natural Resources (DNR) for residents to receive cash rebates for energy efficient improvements to existing homes. The actual amount of the incentives depends on the resulting energy savings. The rebate amount is either 20% of the cost of energy efficiency improvements or 20% of the present value of energy saved by the improvements over the useful life, whichever is less. Any homeowner of an existing home is eligible to apply under this program.
All applications must be submitted prior to the start of any renovation. The homeowner contacts a certified home energy rater listed on the Louisiana DNR site and, pending funding, gets a preliminary rating containing proposed improvements. In order to receive the rebate, the improvements must increase the energy efficiency of the home by at least 30%. After the home has been rated, the homeowner must make the improvements within six months. Following a final verification rating by the home rater, the HERO Program will issue a rebate to the homeowner.
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Cleco Power - Power Miser Home Program
Incentive Type: Utility Rate Discount
Eligible Efficiency Technologies: Water Heaters, Furnaces, Air conditioners, Duct/Air sealing, Building Insulation, Windows, Doors, Comprehensive Measures/Whole Building
Applicable Sectors: Residential
Amount: 10% discount on energy from November through April for the first five years that the customer lives in their house.
Requirement: Home must be built to Power Miser Standards.
Web Site: http://www.cleco.com/site461.php
Summary:
Louisiana's Cleco Power offers a rate discount for residential customers who build homes that meet the Power Miser Program specifications. A customer that is building a new home that meets the standards will receive a rate discount of 10% between November and April for the first five years they live in the house.
Power Miser Standards include:
-Air Conditioner/Furnace has minimum SEER rating of 14
- Metal ductwork has 2 inches foil-backed insulation
- Non-metal ductwork made out of insulating material
- Electric water heater is well-insulated
-Floor and wall insulation has minimum rating of R-13
-Attic insulation has minimum rating of R-30
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Residential Energy Efficiency Tax Credit
Incentive Type: Personal Tax Credit
State: Federal
Eligible Efficiency Technologies: Water Heaters, Furnaces, Boilers, Heat pumps, Air conditioners, Building Insulation, Windows, Doors, Roofs, Circulating fans used in a qualifying furnace
Applicable Sectors: Residential
Amount: 30%
Maximum Incentive: Aggregate amount of credit for all technologies placed in service in 2009 and 2010 combined is limited to $1,500
Equipment/Installation Requirements: Equipment must be new and in compliance with all applicable performance and safety standards as described in tax code
Date Effective: 1/1/2006
Expiration Date: 12/31/2010
Website: www.irs.gov
Summary:
The federal tax credit for energy-efficient home improvements was established by the Energy Policy Act of 2005. After expiring December 31, 2007, the credit was extended and expanded by The Energy Improvement and Extension Act of 2008 (H.R. 1424: Div. B, Sec. 302) and The American Recovery and Reinvestment Act of 2009 (H.R. 1: Div. B, Sec. 1121). The credit now applies to eligible equipment purchased between January 1, 2009, and December 31, 2010. In addition to extending the credit, H.R. 1424 and H.R. 1 strengthened the efficiency requirements for most equipment, extended the credit to stoves that use biomass fuel and asphalt roofs with appropriate cooling granules; raised the cap for the credit; and redesigned the way the credit is calculated.
The credit applies to energy efficiency improvements in the building envelope of existing homes and for the purchase of high-efficiency heating, cooling and water-heating equipment. Efficiency improvements or equipment must serve a dwelling in the United States that is owned and used by the taxpayer as a primary residence. The maximum amount of homeowner credit for all improvements combined is $1,500 for equipment purchased during the two-year period of 2009 and 2010.
Building Envelope Improvements
Owners of existing homes receive a tax credit worth 30% of the cost of upgrading the efficiency of the building's envelope. Installation (labor) costs are not included. The following improvements are eligible for the tax credit:
- Insulation materials and systems designed to reduce a home's heat loss or gain
- Exterior doors and windows (including skylights) and
- Pigmented metal roofs designed to reduce heat gain, and asphalt roofs with appropriate cooling granules.
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Energy-Efficient New Homes Tax Credit for Home Builders
Incentive Type: Corporate Tax Credit Eligible Efficiency Technologies: Comprehensive Measures/Whole Building
Applicable Sectors: Construction
Amount: $1,000-$2,000, depending on energy savings and home type
Maximum Incentive: $2,000
Web Site: http://www.irs.gov/businesses/small/industries/article/0,,id=155445,00.html
Expiration Date: 12/31/2009
Summary:
The federal Energy Policy Act of 2005 established tax credits of up to $2,000 for builders of all new energy-efficient homes, including manufactured homes constructed in accordance with the Federal Manufactured Homes Construction and Safety Standards. Initially scheduled to expire at the end of 2007, the tax credit was extended through 2008 by Section 205 of the Tax Relief and Health Care Act of 2006 (H.R. 6111), and then extended again through December 31, 2009 by Section 304 of The Energy Improvement and Extension Act of 2008 (H.R. 1424).
The home qualifies for the credit if:
- It is located in the United States;
- Its construction is substantially completed after August 8, 2005;
- It meets the energy saving requirements outlined in the statute; and
- It is acquired from the eligible contractor after December 31, 2005, and before January 1, 2010, for use as a residence.
Energy Saving Requirements:
Site-built homes qualify for a $2,000 credit if they are certified to reduce heating and cooling energy consumption by 50% relative to the International Energy Conservation Code standard and meet minimum efficiency standards established by the Department of Energy. Building envelope component improvements must account for at least one-fifth of the reduction in energy consumption.
Manufactured homes qualify for a $2,000 credit if they conform to Federal Manufactured Home Construction and Safety Standards and meet the energy savings requirements of site-built homes described above.
Manufactured homes qualify for a $1,000 credit if they conform to Federal Manufactured Home Construction and Safety Standards and reduce energy consumption by 30% relative to the International Energy Conservation Code standard. In this case, building envelope component improvements must account for at least one-third of the reduction in energy consumption. Alternatively, manufactured homes qualify if they meet Energy Star Labeled Homes requirements. |
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