Related Highlights of the 2005 National Energy Policy Act

The 2005 National Energy Policy Act is now in force and details are being worked-out regarding the implementation of the Act, as well as inspection and verification procedures.

In essence, a home builder who builds a high performance home can receive up to $2,000 in tax credits. An owner of a residence can obtain up to $500 in tax credits for installing energy efficiency improvements. It is probable that an energy inspection, such as a HERS rating, will be required on new homes in order for home builders to receive the tax credit. An inspection may not be required for the installation of energy efficient products in an existing home, but full details will be available in January 2006.

The proposed time frame for the homes to be built or energy improvements to be installed: 2006/2007 - However, there are more details being worked-out regarding timing issues and other factors.

Details about the residential tax credits can be found on the RESNET website at: http://www.natresnet.org/hotnews/tax_credits_050801.htm

Information about tax credits for homes, businesses, automobiles, fuel cells and more can be found on TIAP - Tax Incentives Assistance Project at: http://www.energytaxincentives.org/

For a quick summary of the tax incentives, you can visit the EPA ENERGY STAR(R) Website at: http://www.energystar.gov/index.cfm?c=products.pr_tax_credits#1

Additional information will be posted here as it becomes available.